Daily Newsletter: Mortgage Rates Continue Higher After Yellen Testimony; Affordability is the Big Challenge for Housing; Broker vs Mini-Correspondent

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30 Year Fixed 4.20%   +0.03 15 Year Fixed 3.34%   +0.04 10YR Treasury 2.55%   +0.0055 FNMA 30YR 3.5 102.08   -0.09 FNMA 15YR 2.5 103.50   -0.09 View Today's Rates

Tuesday July 15, 2014 Mortgage Rate Watch - 3:26PM Mortgage Rates Continue Higher After Yellen Testimony Mortgage rates moved slightly higher again today . Fed Chair Janet Yellen provided her semi-annual testimony to the Senate Banking Committee this morning. The financial markets that ... MND NewsWire - 4:52PM Affordability is the big Challenge for Housing The rule of thumb for household budgeting is that no more than 30 percent of income should go toward housing; more constitutes a cost-burdened household and spending more than 50 percent ... Pipeline Press - 10:18AM Differences Between Broker and Mini-Corr; Jumbo Deals; Lender Financing Alternatives Some of the big topics here at the CMBA Western Secondary conference are margins, compensation, and compliance. Reports show that bank tellers earned an average of $25k in 2012 and ... MBS Commentary - 12:36PM MBS MID-DAY: Yellen Testimony Brings Volatility, but No New Momentum As expected, today's congressional testimony from Fed Chair Yellen was, by far, the biggest market mover in the room. The volume and movement at 10am dwarfed that of the 8:30am Retail ... Rental Market Stabilizing but Renter Profile is Changing Latest Video Yellen on ending QE & raising rates Yellen guiding markets? Janet Yellen: Inflation up, still below FOMC's 2% target More News from 'Around the Web' CNBC - 4:32PM Democrats AND Republicans are wrong Reuters - 4:09PM JPMorgan pulls back from mortgage lending on foreclosure worries House Financial Services - 3:15PM Financial Services Committee Fires Back on CFPB Renovation Article CNBC - 1:38PM "We Don't Like The Bond Market" DataQuick - 1:37PM June Southland Home Sale Press Release webfeeds.brookings.edu - 12:10PM The Economics of Marriage, and Family Breakdown Bloomberg - 12:10PM Yellen Says Unemployment Causes 'Psychological Trauma' - Bloomberg WSJ - 10:41AM Yellen, Fed Still Worried About Slowdown in Housing Recovery Reuters - 10:22AM Fed's Yellen says U.S. recovery incomplete, defends loose policy WSJ - 10:22AM Quit My Job? At My Age? In This Industry? CNBC - 9:22AM Looks like Fed wants even more power CNBC - 9:22AM US retail sales driven lower by weak auto sales WSJ - 9:20AM Yellen Could Get Quizzed This Week on Legislation Aimed at the Fed Market Watch - 9:19AM J.P. Morgan shares rise premarket on better-than-expected earnings Market Watch - 9:19AM Bond Report: Treasurys fall after stronger economic data Today's Comments MBS Live Chat - 9:17AM "Anyone else seeing clients hours cut vs layoffs? I have a loan closing Thur that almost wasn't. Due to seniority at the hospital someone moved to her department and forced a bump. Her and a co-worker literally had to go in to the back room to flip a coin to see who's hours were getting reduced from 40..." MBS Live Chat - 2:51PM "im looking at a long term range of 2.43-2.65 and short term of 2.61-2.51 does that sound about right MG?..." MBS Live Chat - 2:55PM "depends what you're wanting your boundaries to represent. Definitely 2.66 is important on the high end. On the bullish side, there are more choices. 2.47 and 2.40 are long-term and fairly epic. But some people look at 2.47-2.51 as "2.5" and call it good. In general, it's hard to argue with that stance..." Today's Rates Best Execution Rate Change 30 Yr FRM 4.20% +0.03 15 Yr FRM 3.34% +0.04 FHA 30 Year Fixed 3.75% +0.00 Jumbo 30 Year Fixed 4.05% +0.04 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 3.56% 1.13 -0.10 30 Yr. Fixed 4.37% 1.39 -0.16 MBA ** 30 Yr. Fixed 4.32% 0.16 +0.04 15 Yr. Fixed 3.40% 0.22 -0.02 30 Yr. Jumbo 4.24% 0.16 -0.02 30 Yr. FHA 4.02% -0.03 +0.03 5/1 ARM 3.40% 0.22 -0.02 Freddie Mac ** 30 Yr. Fixed 4.15% 0.70 +0.03 15 Yr. Fixed 3.24% 0.60 +0.02 1 Yr. ARM 2.40% 0.40 +0.02 5/1 Yr. ARM 2.99% 0.40 +0.01 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 98.13 -0.09 30YR FNMA 3.5 102.08 -0.09 30YR GNMA 3.0 100.27 0.00 30YR GNMA 3.5 103.22 -0.14 15YR FNMA 3.0 103.50 -0.09 15YR FNMA 2.5 101.25 -0.09 Treasuries Yield Change 2 YR 0.4799% +0.0200 5 YR 1.6909% +0.0198 10 YR 2.5504% +0.0055 30 YR 3.3707% +0.0009 Prices as of: 7/15/2014 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. © 2014 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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