Daily Newsletter: Mortgage Rates Hold Perfectly Flat Despite Fed Minutes; Fast-Tracking Foreclosures Might Eliminate Dead Weight Losses; Refinance Apps Inch Higher

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30 Year Fixed 4.16%   +0.00 15 Year Fixed 3.28%   +0.00 10YR Treasury 2.53%   +0.0232 FNMA 30YR 3.5 102.53   +0.02 FNMA 15YR 2.5 103.84   +0.05 View Today's Rates

Wednesday May 21, 2014 Mortgage Rate Watch - 3:16PM Mortgage Rates Hold Perfectly Flat Despite Fed Minutes Mortgage rates held almost perfectly steady today, despite the potentially important release of last month's meeting minutes from the FOMC (aka "The Fed"). That said, markets arguably ... MND NewsWire - 2:20PM Fed discussed rate hike procedures, no action soon Federal Reserve officials discussed rate hike procedures at a joint meeting, but agreed the discussion does not signal rate action is coming soon. That was one of the key data points ... MND NewsWire - 10:57AM Fast-Tracking Foreclosures Might Eliminate Dead Weight Losses Along with a recent rise in bank owned real estate the foreclosure crisis drags on in the form of increasingly long timelines for completing the foreclosure process in judicial foreclosure ... MND NewsWire - 8:47AM Refinance Apps Inch Higher, Marking Third Straight Gain It was only by a fraction, but mortgage application activity was up for the third straight time during the week ended May 16. The Mortgage Bankers Association (MBA) said its Market ... Anti-Money Laundering Still a Concern; Investor Updates; Secondary Conference Chatter MBS Day Ahead: Any Mortgage-Related Surprises in Store from the FOMC Today? Realtor Incomes Increase for Third Year; Field Attracting Younger Agents REO Inventories Rising Even as Foreclosures Drop Latest Video Behind the mortgage numbers How to read the latest round of FOMC minutes Santelli Exchange: 3 market misconceptions More News from 'Around the Web' The Atlantic - 3:59PM It Wasn't Household Debt That Caused the Great Recession rss.nytimes.com - 3:59PM Fed Officials Troubled by Housing Weakness SIFMA - 3:59PM SIFMA Commends House Committee for Taking Action to Stop Eminent Domain Scheme WSJ - 3:58PM Fed's Williams: Best to Raise Rates Before Ending Bond Reinvestment House Financial Services - 2:47PM Subcommittee Hears Testimony from Subpoenaed CFPB Witnesses Fannie Mae - 2:45PM News Release - Fannie Mae Prices Third Capital Markets Risk ... WSJ - 2:16PM Key Passages: Read the Federal Reserve Meeting Minutes in Just a Minute CNBC - 2:15PM Fed discussed rate hike procedures, no action soon CNBC - 1:32PM Kocherlakota: Low inflation signals econ problem CNBC - 1:32PM Consumer credit defaults at pre-recession levels WSJ - 12:28PM Yellen: Yankee Legends, Fed Officials Shouldn't Be Afraid to Swing and Miss www.aei-ideas.org - 12:27PM Is automation responsible for stagnant US wages? Economists respond! Bloomberg - 11:25AM Government Mortgage-Bond Task Force Has More Than a Dozen Probes - Bloomberg Reuters - 11:25AM Exclusive: New York regulator probes Ocwen over reports of homeowner gag rule CNBC - 10:21AM El-Erian: Market's love affair with Fed WSJ - 10:04AM Meet Incoming Fed Vice Chair Stanley Fischer CNBC - 10:02AM Risky business? Why you should watch Europe bonds Market Watch - 10:02AM Treasurys slide ahead of Fed minutes zillow.mediaroom.com - 8:56AM Inventory Down For Fourth Straight Month in April; U.S. Home Values Show First Monthly Decline in Two Years Reuters - 8:54AM Lowe's May sales improve, severe winter hits first-quarter results Today's Comments MBS Live Chat - 11:56AM "Truly a phenomenal site. Like TruCar for mortgage rates..." MBS Commentary - 12:13PM "Look at Matt getting quoted ......" MBS Live Chat - 2:00PM "RTRS - U.S. FED POLICY MAKERS DISCUSSED MONETARY POLICY NORMALIZATION IN APRIL AS PART OF 'PRUDENT PLANNING' - FOMC MINUTES..." MBS Live Chat - 2:00PM "RTRS - FOMC PARTICIPANTS FAVORED MORE TESTING OF FED POLICY TOOLS, PLAN FURTHER REVIEW AT UPCOMING MEETINGS - MINUTES..." MBS Live Chat - 2:00PM "RTRS - LOW WAGE GROWTH ALSO CITED AS EVIDENCE OF LABOR MARKET SLACK - MINUTES..." MBS Live Chat - 2:00PM "RTRS - A NUMBER OF PARTICIPANTS SKEPTICAL THAT SHORT-TERM JOBLESSNESS MORE IMPORTANT IN WAGE GROWTH THAN LONG-TERM UNEMPLOYMENT - MINUTES..." MBS Live Chat - 2:01PM "RTRS - A FEW PARTICIPANTS FEEL FED SHOULD BE CLEARER ABOUT ITS APPROACH TO EVENTUAL RATE HIKE - MINUTES..." MBS Live Chat - 2:01PM "RTRS - A NUMBER OF PARTICIPANTS SAID FED SHOULD SPECIFY PLANS FOR REINVESTING ITS ASSET HOLDINGS, SHRINKING BALANCE SHEET - MINUTES..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.16% +0.00 15 Yr FRM 3.28% +0.00 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.95% +0.00 5/1 Yr ARM 3.22% +0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.80% 1.10 +0.13 30 Yr. Fixed 4.67% 1.44 +0.13 MBA ** 30 Yr. Fixed 4.33% 0.20 -0.06 15 Yr. Fixed 3.43% 0.15 -0.05 30 Yr. Jumbo 4.24% 0.10 -0.05 30 Yr. FHA 4.06% 0.00 -0.03 5/1 ARM 3.14% 0.29 -0.03 Freddie Mac ** 30 Yr. Fixed 4.20% 0.60 -0.01 15 Yr. Fixed 3.29% 0.60 -0.03 1 Yr. ARM 2.43% 0.50 +0.00 5/1 Yr. ARM 3.01% 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 98.38 -0.08 30YR FNMA 3.5 102.53 +0.02 30YR GNMA 3.0 100.17 -0.11 30YR GNMA 3.5 103.66 +0.06 15YR FNMA 3.0 103.84 +0.05 15YR FNMA 2.5 101.31 +0.06 Treasuries Yield Change 2 YR 0.3426% +0.0039 5 YR 1.5277% +0.0180 10 YR 2.5338% +0.0232 30 YR 3.4143% +0.0335 Prices as of: 5/21/2014 4:12PM 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. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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