Daily Newsletter: Mortgage Rates Approach 4% After Jobs Data; Expanded HARP Eligibility Dates; California Sales Slide, but Fewer are 'Distressed'

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30 Year Fixed 4.14%   -0.14 15 Year Fixed 3.30%   -0.10 10YR Treasury 2.51%   -0.0908 FNMA 30YR 3.5 102.58   +0.73 FNMA 15YR 2.5 103.95   +0.44 View Today's Rates

Tuesday October 22, 2013 Mortgage Rate Watch - 4:41PM Mortgage Rates Drop Quickly After Jobs Data Mortgage rates fell abruptly today, after the long-awaited Employment Situation Report painted a bleaker-than-expected picture for labor markets. The report was originally scheduled ... MND NewsWire - 4:05PM Fannie and Freddie Announce Expanded HARP Eligibility Dates In a move some borrowers and originators might consider "too little, too late" both Fannie Mae and Freddie Mac announced today they are expanding the eligibility dates for the Home ... MND NewsWire - 3:28PM California Home Sale Contracts Fall but Equity Share Increases Pending homes sales in California dipped by 1.8 percent on the California Association of Realtors® (C.A.R) Pending Home Sales Index, falling to 106.4 in September from 108.3 a month ... MND NewsWire - 5:01PM Regulators Give Lenders Green Light to Offer Fewer Options In the post-meltdown era of hyper-regulation, lenders are understandably not eager to stick their necks out any further than necessary. Many in the mortgage industry would prefer to ... MBS RECAP: Bond Markets Steady at Stronger Levels After NFP New Homes Lead Construction Spending Higher Over 1 million Construction Jobs Still Needed For 'Normal' Growth ESNT Starts Trading; Agency Updates; Primer on Primary-Secondary Spread Latest Video JPM's California problem Fed could be on hold until March: Pisani Buy bonds over stocks? More News from 'Around the Web' business.time.com - 5:21PM S&P 500 Closes At Record For Fourth Straight Day Bloomberg - 5:21PM Deutsche Bank Said to Prepare Blackstone-Linked Rental Bonds - Bloomberg Reuters - 5:20PM Exclusive: JPMorgan settlement could cost bank closer to $9 billion investors.flagstar.com - 5:20PM Flagstar Reports Third Quarter 2013 Net Income of $12.8 million or $0.16 per Diluted Share Fannie Mae - 4:27PM Dr. Amy E. Alving Elected to Fannie Mae Board of Directors WSJ - 3:50PM Employment Shows 'Missing Households' Still Weigh on Housing OCC - 2:58PM Federal Regulators Provide Guidance On Qualified Mortgage Fair Lending Risks Washington Post - 2:25PM Wonkblog: When is the Fed going to taper QE? Probably not soon! WSJ - 1:53PM Housing Construction Gains Not Translating to Much Hiring www.cfpbmonitor.com - 1:46PM Director Cordray focuses on mortgage rules in remarks to American Bankers Association CFPB - 12:38PM CFPB Releases 'eRegulations', Open Source Tool to Make Regulations Easier to Understand Bloomberg - 11:17AM BofA's Countrywide Loans Were `In the Ditch,' US Says - Bloomberg Realtor.Org - 11:16AM What NAR's Big Data Initiative is All About news.google.com - 10:27AM Jobs Report Keeps Fed on Hold for Now - Wall Street Journal www.aei-ideas.org - 10:27AM The September jobs report: We waited three weeks for this? Reuters - 10:26AM U.S. construction spending approaches 4-1/2 year high www.nytimes.com - 10:26AM Jobs Report Brightens Wall Street Market Watch - 9:44AM Coming up: August construction spending Reuters - 9:42AM Fed won't raise U.S. rates until well 2015, traders bet Washington Post - 9:42AM Wonkblog: The jobs report was totally blech. And it may get worse. Today's Comments MBS Live Chat - 2:22PM "RTRS- POLL-MAJORITY OF DEALERS SAYS BUDGET/DEBT LIMIT IMPASSE TO HAVE 'SIGNIFICANT' EFFECT ON TIMING OF FED TAPERING..." MBS Live Chat - 2:48PM "http://www.freddiemac.com/singlefamily/news/2013/1022_revised_eligibility_date.html..." MBS Live Chat - 2:51PM "thanks AP. Wonder if Fannie will do it too..." MBS Live Chat - 2:51PM "they will have to...." MBS Live Chat - 2:52PM "Would be nice if they did. I know I have at least a few borrowers that could then use HARP if Fannie switches to the Note date...." MBS Live Chat - 2:52PM "why have to? FHFA mandated?..." MBS Live Chat - 2:54PM "if it is for consumer transparency and HARP is under Making Home Affordable, there can't be two sets of rules. Consumers would be treated differently for presumably one program...." MBS Live Chat - 2:55PM "that is the interesting part, I don't see an FHFA statement on this which leads me to think that agencies have some say on the eligibility date...." MBS Live Chat - 2:58PM "https://www.fanniemae.com/content/announcement/sel1308.pdf..." MBS Live Chat - 2:58PM "boom! Fannie conforms to the new date..." MND NewsWire - 5:08PM "Nice to know that lenders will not be held in violation of Fair Lending Laws simply by following QM requirements!..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.14% -0.14 15 Yr FRM 3.30% -0.10 FHA 30 Year Fixed 3.88% -0.12 Jumbo 30 Year Fixed 4.20% -0.09 5/1 Yr ARM 3.15% -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 98.56 +0.86 30YR FNMA 3.5 102.58 +0.73 30YR GNMA 3.0 99.66 +0.98 30YR GNMA 3.5 103.72 +0.80 15YR FNMA 3.0 103.95 +0.44 15YR FNMA 2.5 101.11 +0.55 Treasuries Yield Change 2 YR 0.2945% -0.0202 5 YR 1.2832% -0.0704 10 YR 2.5124% -0.0908 30 YR 3.6119% -0.0597 Prices as of: 10/22/2013 4:31PM 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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