Daily Newsletter: Mortgage Rates Moderately Higher; FHA-Related Updates; Bidding Wars Slowing; Mortgage Interest Deduction Reform

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30 Year Fixed 4.66%   +0.02 15 Year Fixed 3.68%   +0.03 10YR Treasury 2.99%   +0.0130 FNMA 30YR 3.5 99.30   +0.03 FNMA 15YR 2.5 101.81   +0.08 View Today's Rates

Thursday December 26, 2013 Mortgage Rate Watch - 3:24PM Mortgage Rates Moderately Higher Mortgage rates continued slightly higher into 3-Month Highs today. Movement in the mortgage market depends on many factors, but one of the most important for any market is liquidity ... Pipeline Press - 10:27AM The FHA Program: Recent News, Changes, Financial Condition, and General Processing Notes Echoing what lock desks are seeing, and once again causing some lenders and Realtors to take a fresh look at overhead, the MBA Mortgage Application Index was down -6.3% vs. -5.5% from ... MND NewsWire - 12:49PM Bidding Wars Slow but Local Markets Still Competitive - 62 Offers? While competition has moderated, Redfin reports that there is still plenty of data, real and anecdotal, to show homebuyers are still highly motivated . Redfin offers that were met with ... MND NewsWire - 12:42PM 3 Options for Mortgage Interest Deduction Reform The mortgage interest deduction (MID) is never left alone for very long . In Unmasking the Mortgage Interest Deduction: Who Benefits and by How Much ? Economists Dean Stansel and Anthony ... Do's and Don'ts of the Mortgage Process: Christmas Edition GSE Foreclosure Prevention Actions top 3 Million FHFA Looks at Impact of LTV on Loan Performance Mortgage Application Dives Further into 12-Year Low New Home Sales Stay Strong; Prices Surge Latest Video House prices in another bubble: Pro 10-year yield hits 3%! What's next? Initial jobless claims drops to 338,000 More News from 'Around the Web' CNBC - 1:54PM Cutting benefits could cut jobless rate CNN - 1:53PM Best year ever for stock funds WSJ - 12:42PM How Well Did New Jobs Pay in 2013? WSJ - 12:41PM Vital Signs: Home Sales Rebound Shows Power of Rates CNBC - 12:35PM Dow near best year since 1996 Reuters - 10:43AM U.S. holiday sales better than last year: MasterCard freddiemac.mwnewsroom.com - 10:24AM Freddie Mac: Fixed Mortgage Rates Little Changed at Year-End Bloomberg - 9:46AM U.S. 10-Year Note Yields Rise to Highest Level Since September - Bloomberg CNBC - 9:46AM Jobless claims hit lowest level in about a month Reuters - 8:34AM Futures higher, but trading expected to be light CNBC - 8:33AM The bullish case for bonds: Pimco pro Bloomberg - 1:15AM Treasuries Snap 2-Day Retreat on Bets Fed Will Keep Rates Lower - Bloomberg Today's Comments MND NewsWire - 10:37AM "How long before we start reading of more mass layoffs among mortgage lenders? Fannie/Freddie and FHA both desperately want to reduce their market share, guess rising rates and fees will take care of that, but at the expense of the lost savings of loans NOT refinanced, and of lower mortgage/real estate..." MBS Live Chat - 12:17PM "Quick Question: If a borrower is using a withdrawal plan from their IRA as income for qualifying purposes...when calculating the 3 year's continuance, do you need to take 60% of the balance in the IRA account? Borrower is 69 years old...." MBS Live Chat - 12:21PM "60% is used if using for assets... if using for income purposes you would you calculate on entire amount BB and JP..." MBS Live Chat - 12:29PM "AP - this is a better link - https://www.fanniemae.com/content/guide/sel102213.pdf page 353..." MBS Live Chat - 12:14PM "Using work related assets as income to qualify...." MBS Live Chat - 12:12PM "Andy, FNMA offer asset dissipation conforming loan......" MBS Live Chat - 12:26PM "let me clarify, "used assets as income exclusively..." MBS Live Chat - 12:42PM "either way, this is amazing stuff. Thank you both JPM and Ira!..." MBS Live Chat - 12:15PM "unfortunately most investors wont allow and most u/w would have not clue how to cacl..." MBS Live Chat - 11:37AM "Gm, all. When does the common sense part kick in? I thought we were still in the let's over regulate the industry for things that haven't happened in 6 plus years mode...." Today's Rates Best Execution Rate Change 30 Yr FRM 4.66% +0.02 15 Yr FRM 3.68% +0.03 FHA 30 Year Fixed 4.25% +0.00 Jumbo 30 Year Fixed 4.60% +0.02 5/1 Yr ARM 3.25% +0.01 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 4.64% 0.41 +0.02 15 Yr. Fixed 3.74% 0.29 +0.08 30 Yr. Jumbo 4.63% 0.24 +0.02 30 Yr. FHA 4.29% 0.24 +0.04 5/1 ARM 3.26% 0.39 +0.06 Freddie Mac ** 30 Yr. Fixed 4.48% 0.70 +0.01 15 Yr. Fixed 3.52% 0.70 +0.01 1 Yr. ARM 2.56% 0.50 -0.01 5/1 Yr. ARM 3.00% 0.40 +0.04 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 94.94 -0.03 30YR FNMA 3.5 99.30 +0.03 30YR GNMA 3.0 96.47 0.00 30YR GNMA 3.5 100.67 +0.03 15YR FNMA 3.0 101.81 +0.08 15YR FNMA 2.5 98.81 +0.14 Treasuries Yield Change 2 YR 0.4110% +0.0118 5 YR 1.7441% +0.0082 10 YR 2.9942% +0.0130 30 YR 3.9239% +0.0273 Prices as of: 12/26/2013 4:29PM 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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