Daily Newsletter: Rates Steady Near 3-Year Lows; Flipping Comeback? Not Even Close; Lending Club Drama; Quicken Doubles Down

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30 Year Fixed 3.61%   +0.00 15 Year Fixed 2.90%   +0.00 10YR Treasury 1.75%   -0.0299 FNMA 30YR 3.5 105.02   +0.08 FNMA 15YR 2.5 104.64   +0.06 View Today's Rates

Monday May 9, 2016 Mortgage Rate Watch - 4:45PM Mortgage Rates Steady Near 3-Year Lows Mortgage rates moved sideways today, taking them one step closer to officially claiming the title of "3 year lows." Tomorrow marks the three year anniversary of the Wall Street Journal ... MND NewsWire - 1:00PM Don't Call it a Comeback: Flipping is Modest by Bubble Standards Is flipping back in vogue? CoreLogic, in a two-part article published in its blog says activity is up, but so far we are seeing nothing like the level of activity in 2005 . Flipping ... Pipeline Press - 10:42AM Lending Club CEO resigns; Upcoming Events/Training; USDA Rural Developments; Mortgage Credit Less Available At a car dealership: "The best way to get back on your feet - miss a car payment.” Some believe that the CFPB has shifted its spotlight, temporarily, onto pay day, auto lending ... MBS Commentary - 10:09AM MBS Week Ahead: Bigger Picture Trend Toward Consolidation Limited data and events this week to motivate strong momentum broader trend looking like a consolidation pattern first major break out of that pattern could be big Conventional wisdom ... CoreLogic: no Energy-Related Increases in Distressed Sales Fannie Posts Profit, will Continue Dividend Payments Latest Video Lending Club CEO out Quicken Loans says 'no' to DOJ deal: CEO Income growth weaker than numbers show: Economist More News from 'Around the Web' Bloomberg - 4:05PM Home Prices Climbed in 87% of U.S. Metro Areas in First Quarter Reuters - 4:04PM Fed's Kashkari says accommodative policy needed to bring workers back Calculated Risk Blog - 4:03PM Phoenix Real Estate in April: Sales up 1%, Inventory up YoY CNBC - 12:16PM ZIP codes with the biggest boom towns Market Watch - 12:16PM Lending Club downgraded by several analysts after CEO resignation CNBC - 12:13PM Quicken Loans CEO tells Justice Department to pound sand on mortgage allegations CNBC - 12:13PM The top towns for real estate investors CNBC - 10:29AM How millennials direct Fed rates Market Watch - 8:49AM Get your affairs in order because this rare technical signal is flashing red Calculated Risk Blog - 8:34AM Merrill on Fed: "See you in September" www.npr.org - 8:34AM First-Time Buyers Face Housing Crunch In Big Cities Market Watch - 8:30AM LendingClub CEO Laplanche resigns after review of sale of near-prime loans CNBC - 8:28AM The worst may be over for Wall Street bond traders www.npr.org - 8:25AM HUD Secretary Julian Castro Issues New Guidance For Landlords www.freddiemac.com - 8:24AM Single-Family Loan Repurchases Trending Down Today's Rates Best Execution Rate Change 30 Yr FRM 3.61% +0.00 15 Yr FRM 2.90% +0.00 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.60% +0.01 5/1 Yr ARM 3.02% +0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.45% 1.20 -0.01 30 Yr. Fixed 4.12% 1.43 -0.05 MBA ** 30 Yr. Fixed 3.82% 0.33 -0.04 15 Yr. Fixed 3.10% 0.37 +0.00 30 Yr. Jumbo 3.74% 0.31 -0.02 30 Yr. FHA 3.66% 0.29 -0.07 5/1 ARM 2.94% 0.20 +0.00 Freddie Mac ** 30 Yr. Fixed 3.61% 0.60 -0.05 15 Yr. Fixed 2.86% 0.50 -0.03 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.80% 0.50 -0.06 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 3.0 102.88 +0.14 30YR FNMA 3.5 105.02 +0.08 30YR GNMA 3.0 103.66 -0.03 30YR GNMA 3.5 105.75 +0.14 15YR FNMA 3.0 104.64 +0.06 15YR FNMA 2.5 103.09 +0.09 Treasuries Yield Change 2 YR 0.7100% -0.0280 5 YR 1.1932% -0.0357 10 YR 1.7490% -0.0299 30 YR 2.6114% -0.0162 Prices as of: 5/9/2016 4:46PM 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. © 2016 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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