Daily Newsletter: Home Sales Level Off, Prices Drop; JP Morgan Chase to Pay $13 bln over Mortgages; Rates Slightly Higher; Remodeling Decline Arrives Early

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30 Year Fixed 4.28%   +0.01 15 Year Fixed 3.40%   +0.01 10YR Treasury 2.60%   +0.0146 FNMA 30YR 3.5 101.84   -0.16 FNMA 15YR 2.5 103.52   -0.06 View Today's Rates

Monday October 21, 2013 MND NewsWire - 11:02AM Existing Home Sales Level Off; Prices Drop From Last Month Even though sales of existing homes drifted off the record levels established in the previous two months, September sales were higher by double digits than a year earlier. The month ... MND NewsWire - 10:18AM JP Morgan Chase to Pay $13 Billion for MBS, Loan Claims It is being billed as the largest single-institution settlement arising from the financial crisis. JPMorgan Chase (JPM) has agreed to pay $13 billion dollars to resolve multiple investigations ... Mortgage Rate Watch - 3:47PM Mortgage Rates Slightly Higher Ahead of Important Employment Data Mortgage rates rose modestly today, but remained in line with the lower levels seen since last week's debt-ceiling deal. The difference between today's rate sheets and Friday's latest ... MND NewsWire - 1:04PM Seasonal Remodeling Decline Arrives Early; More Severe Residential remodeling eased off in August, dropping by 13 percent from the July seasonally adjusted annual rate of 3.434 million to 2.987 million. The rate is also 5 percent below ... MBS RECAP: Incidental Weakness and Light Volume ahead of NFP Webinar on Compliance Issues; State-Level Updates; What is a Fannie "Defect Rate"? The Week Ahead: Ongoing Data Uncertainty, but Jobs Report Returns Homebuyers Lose Again As FHA Tightens Guidelines Latest Video Existing home sales: Issue for consumer? Existing home sales in Sept. down 1.9% High expectations for job report More News from 'Around the Web' CNBC - 3:15PM Tuesday's jobs report expected to show improvement CNBC - 1:57PM Data delay means Fed will keep printing www.frbsf.org - 1:56PM Why Are Housing Inventories Low? Reuters - 1:56PM Slow U.S. home sales should rise if house prices do: Fed study CNBC - 12:11PM CNBC Exclusive: CNBC Excerpts: CNBC's Steve Liesman Sits Down with Chicago Federal Reserve President Charles Evans Today on CNBC's "Squawk Box" Bloomberg - 11:35AM Cordray Doesn't Expect Wave of Litigation Over CFPB's QM Rule www.cfpbmonitor.com - 10:38AM House to hold hearing on proposals to reform CFPB CNBC - 10:07AM Existing home sales decline 1.9 percent in September Google News - 10:07AM NAR: Existing-Home Sales Down in September but Prices Rise CNBC - 9:13AM We're gaining market share, we're trying to get our problems behind us: Jamie Dimon CNBC - 9:13AM Fed's Evans: Shutdown delays tapering by months CNBC - 7:59AM JPMorgan deal 'preposterous': Former prosectutor Reuters - 10:35PM JPMorgan in tentative $13 billion deal with U.S. Justice Department: source Reuters - 10:35PM For JPMorgan, ending criminal probe proves impossible for now Bloomberg - 10:32PM FHFA Said to Seek More Than $6 Billion From BofA for MBS Sales - Bloomberg Today's Comments MBS Live Chat - 3:17PM "lock or float before tomorrow?..." MBS Live Chat - 3:18PM "lock if it is what the customer wants..." MBS Live Chat - 3:19PM "See newstream article on employment expectations, float with extreme caution...." MBS Live Chat - 3:23PM "here's the thing about lock/float questions before NFP. NFP typically sets the trend for the entire month, and this is doubly true on months where it is significantly better or worse than expected. You can pretty much throw out every movement from before today and just consider tomorrow as a coin toss..." MBS Live Chat - 3:23PM "Not like we're seeing a facemelting rally today in anticipation of a horrific report...." MBS Live Chat - 3:25PM "imo, it could take us much higher than lower...more to risk, very little to gain, unless it is sub 100k, then we rally big..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.28% +0.01 15 Yr FRM 3.40% +0.01 FHA 30 Year Fixed 4.00% +0.02 Jumbo 30 Year Fixed 4.29% +0.01 5/1 Yr ARM 3.17% -0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.62% 1.06 +0.18 30 Yr. Fixed 4.49% 1.21 +0.22 MBA ** 30 Yr. Fixed 4.46% 0.31 +0.04 15 Yr. Fixed 3.53% 0.31 +0.01 30 Yr. Jumbo 4.51% 0.15 +0.06 30 Yr. FHA 4.16% 0.44 +0.01 5/1 ARM 3.25% 0.31 +0.00 Freddie Mac ** 30 Yr. Fixed 4.28% 0.70 +0.05 15 Yr. Fixed 3.33% 0.70 +0.02 1 Yr. ARM 2.63% 0.40 -0.01 5/1 Yr. ARM 3.07% 0.40 +0.02 Current Mortgage Rates » * FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly. Secondary Markets MBS Price Change 30YR FNMA 3.0 97.70 -0.16 30YR FNMA 3.5 101.84 -0.16 30YR GNMA 3.0 98.67 -0.08 30YR GNMA 3.5 102.92 -0.08 15YR FNMA 3.0 103.52 -0.06 15YR FNMA 2.5 100.56 -0.08 Treasuries Yield Change 2 YR 0.3147% -0.0039 5 YR 1.3536% +0.0163 10 YR 2.6032% +0.0146 30 YR 3.6716% +0.0148 Prices as of: 10/21/2013 4:30PM EST Current MBS / Treasury Prices » MBS and Treasury data provided by Thomson Reuters. Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information. Secondary Marketing Managers: If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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