Wednesday, January 22, 2014

Daily Newsletter: Bidding War Dichotomy; Rates Nearing Crossroads; Cold Water on Fannie/Freddie; Applications Continue Higher

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30 Year Fixed
4.50%   +0.02
15 Year Fixed
3.52%   +0.02
10YR Treasury
2.86%   +0.0314
FNMA 30YR 3.5
100.17   -0.39
FNMA 15YR 2.5
102.36   -0.19
Wednesday January 22, 2014
MND NewsWire - 12:44PM
The Redfin realty firm said that competition for houses as measured by bidding wars or multiple offers on properties was mixed across the country between November and December. Unseasonably ...
Mortgage Rate Watch - 3:32PM
Mortgage rates edged modestly higher for a second straight day, though they're still in a lower range than most of December and early January. The movement was small enough as to only ...
MND NewsWire - 5:21PM
A Treasury Department official said today that despite arguments that Fannie Mae and Freddie Mac (the GSEs) are financially flush and that, with the confirmation of Mel Watt as Director ...
MND NewsWire - 8:54AM
The volume of mortgage applications increased again during the week ended January 17 according to information released this morning by the Mortgage Bankers Association (MBA). The MBA ...
MBS Live Chat - 12:18PM
"stocks have pared about 1/2 their losses since about the same time also. Mini lever?..."
MBS Live Chat - 12:18PM
"If I had to make a list of suspects for a line-up of potential market-movers, it would be, in no particular order: 1)asset-allocation trading, 2) corporate bond market hedging, 3) position-squaring ahead of next week's FOMC, with an eye on #4, 4)technical exhaustion of rally at 2.82 in 10's and early..."
MND NewsWire - 5:52PM
"Find the discussion about expanding HARP (or not) primarily on the basis of % of homeowners who are underwater interesting. If someone's at 6.25%, missed HARP deadline, and has minimal equity, they'd sure benefit from refinancing as much as the same scenario on a homeowner with no equity...."
MBS Live Chat - 2:39PM
"yeah, im looking for a 90% option...$670K purchase price..."
MBS Live Chat - 2:45PM
"why not do $474/$129 and stay in the confumbo pricing..."
MBS Live Chat - 2:52PM
"And that's why I love this chat...my in the box thinking was doing simple math...you don't happen to have an idea of a lender offering that 20% 2nd do you?..."
Today's Rates
Best Execution
Rate Change
30 Yr FRM 4.50% +0.02
15 Yr FRM 3.52% +0.02
FHA 30 Year Fixed 4.25% +0.00
Jumbo 30 Year Fixed 4.38% +0.02
5/1 Yr ARM 3.23% -0.02
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 3.61% 1.06 -0.10
30 Yr. Fixed 4.48% 1.36 -0.10
MBA **
30 Yr. Fixed 4.66% 0.33 -0.06
15 Yr. Fixed 3.72% 0.37 -0.05
30 Yr. Jumbo 4.58% 0.24 -0.08
30 Yr. FHA 4.29% 0.17 -0.07
5/1 ARM 3.28% 0.47 -0.05
Freddie Mac **
30 Yr. Fixed 4.41% 0.70 -0.10
15 Yr. Fixed 3.45% 0.70 -0.11
1 Yr. ARM 2.56% 0.50 +0.00
5/1 Yr. ARM 3.10% 0.50 -0.05
* 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 95.83 -0.41
30YR FNMA 3.5 100.17 -0.39
30YR GNMA 3.0 97.44 -0.34
30YR GNMA 3.5 101.63 -0.39
15YR FNMA 3.0 102.36 -0.19
15YR FNMA 2.5 99.33 -0.22
Treasuries
Yield Change
2 YR 0.4000% +0.0164
5 YR 1.6954% +0.0467
10 YR 2.8619% +0.0314
30 YR 3.7585% +0.0122
Prices as of: 1/22/2014 4:30PM EST
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.
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