Daily Newsletter: Rates Inch Further into 6-Month Lows; All-Cash Purchases Defying Odds; GSEs Report Earnings; Mortgage Credit Tight, just not for Jumbos

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30 Year Fixed 4.18%   -0.02 15 Year Fixed 3.30%   -0.02 10YR Treasury 2.61%   +0.0247 FNMA 30YR 3.5 102.36   -0.02 FNMA 15YR 2.5 103.67   -0.02 View Today's Rates

Thursday May 8, 2014 Mortgage Rate Watch - 3:15PM Mortgage Rates Holding Ground at 6-Month Lows Mortgage rates added just slightly to yesterday's improvements, inching just a bit lower into the best levels in more than 6 months. The bond markets that dictate rates took their cues ... MND NewsWire - 1:40PM Even as Distressed Sales Fall; All-Cash Buying Increases Even though sales to investors and sales of distressed homes have declined the National Association of Realtors® (NAR) reports that all-cash sales continue to climb . According ... MND NewsWire - 12:50PM GSE Profits Fall, 'Only' Sending $10.2 bln to Treasury for Q1 Freddie Mac and Fannie Mae both reported profitable results for the first quarter of 2014 today, the 10th consecutive profit for Freddie Mac and the 9th for its sister company. Based ... MND NewsWire - 1:31PM Mortgage Credit Tightens Slightly, but not for Jumbo Borrowers Mike Fratantoni, Chief Economist of the Mortgage Bankers Association explained the slightly lower Mortgage Credit Availability Index (MCAI) for April as the result of countervailing ... MBS MID-DAY: Central Bankers Comments Boost Bond Markets GSE Stress Testing; Housing Finance Reform Update Latest Video Yellen on the economy All cash sales soar to record 42.7% Zillow CEO: Home values appreciating about 6% YOY More News from 'Around the Web' www.freddiemac.com - 4:17PM Five Ways Freddie Mac Is Supporting the Market and Strengthening the Industry Calculated Risk Blog - 3:10PM Asking Prices up 9.0% Annually, Slowest Pace of Improvement in 11 Months www.justice.gov - 3:08PM Real Estate Developer Pleads Guilty to $50 Million Securities Fraud Scheme CNBC - 3:08PM Is market losing taste for pricey Treasurys? WSJ - 3:05PM Mortgage Rates Hit Six-Month Low; Not Likely to Rebound CNBC - 1:55PM US ambassador: Russian troops haven't withdrawn Reuters - 1:24PM Could take 5-8 years to shrink Fed portfolio: Yellen WSJ - 11:47AM Five Takeaways From Fed Chairwoman Janet Yellen's Testimony Google News - 11:47AM All-Cash Sales Up While Distressed Sales and Investors Decline Fannie Mae - 11:46AM News Release - HUD and Fannie Mae Announce Expansion ... Bloomberg - 10:31AM Consumer Comfort in U.S. Cools From Second-Best Level Since 2008 - Bloomberg CNBC - 10:31AM For young, retiring beats home ownership NAHB - 10:30AM Single-family 55+ HMI Rises to Highest First Quarter Reading Since 2008 freddiemac.mwnewsroom.com - 10:30AM 30-Year Fixed-Rate Mortgage Hits Low for the Year CNBC - 9:58AM For millennials, retirement beats home ownership CNBC - 8:58AM Plosser: Fed needs systematic policies CNBC - 8:33AM Investors bet on reverse mortgage return freddiemac.mwnewsroom.com - 8:32AM Freddie Mac Reports First Quarter 2014 Financial Results Reuters - 8:32AM Fannie Mae to pay Treasury $5.7 billion on quarterly profit CNN - 8:32AM Nearly half of all home sales all-cash deals Today's Comments MBS Live Chat - 1:05PM "Santelli gave it a D-..." MBS Live Chat - 1:05PM "At least it wasn't an F+..." MBS Live Chat - 1:09PM "shouldn't be a game-changer for MBS, but an unpleasant speed-bump..." MBS Live Chat - 1:30PM "Cash-out on new home value is 6 months correct?..." MBS Live Chat - 1:30PM "I only ask becuase someone else is telling me 12 months..." MBS Live Chat - 1:31PM "Agency Direct is 6 months...." MBS Live Chat - 2:17PM "has anyone had issues getting an LP accept when a borrower has had a foreclosure? its been more than 3 years so freddie should allow. 1st and 2nd mortgage on the foreclosure, on the credit report 1st shows 2/12 but 2nd shows 5/13. i am thinking its getting referred because the 2nd is shown as less than..." MBS Live Chat - 2:17PM "Any notations on the second that it was settled for less?..." MBS Live Chat - 2:18PM "shows as charge off..." MBS Live Chat - 2:19PM "Oddly Freddie will allow a foreclosure after 3 full years with at least 10% down and a LP streamline accept, but they will not allow it with a pre-foreclosure or short sale. Just went through this and because of the reporting on the second, I can only look at FHA..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.18% -0.02 15 Yr FRM 3.30% -0.02 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 3.97% -0.01 5/1 Yr ARM 3.20% -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 4.49% 0.38 +0.00 15 Yr. Fixed 3.53% 0.31 -0.02 30 Yr. Jumbo 4.37% 0.14 -0.04 30 Yr. FHA 4.17% 0.10 -0.03 5/1 ARM 3.26% 0.35 +0.10 Freddie Mac ** 30 Yr. Fixed 4.21% 0.60 -0.08 15 Yr. Fixed 3.32% 0.60 -0.06 1 Yr. ARM 2.43% 0.40 -0.02 5/1 Yr. ARM 3.05% 0.50 +0.00 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 98.17 -0.05 30YR FNMA 3.5 102.36 -0.02 30YR GNMA 3.0 100.11 -0.03 30YR GNMA 3.5 103.41 -0.06 15YR FNMA 3.0 103.67 -0.02 15YR FNMA 2.5 101.03 -0.05 Treasuries Yield Change 2 YR 0.3909% -0.0119 5 YR 1.6250% -0.0262 10 YR 2.6143% +0.0247 30 YR 3.4336% +0.0319 Prices as of: 5/8/2014 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. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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