Daily Newsletter: Rates Hit 4-Month Highs; Homeownership Pessimism Might be Overdone; CFPB/PHH News and Analysis

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30 Year Fixed 3.57%   +0.01 15 Year Fixed 2.88%   +0.01 10YR Treasury 1.77%   +0.0054 FNMA 30YR 3.5 105.05   -0.09 FNMA 15YR 2.5 104.66   -0.02 View Today's Rates

Wednesday October 12, 2016 Mortgage Rate Watch - 4:33PM Mortgage Rates at 4-Month Highs In and of itself, today wasn't too bad of a day. Mortgage Rates were only slightly higher, and were generally unfazed by the release of the Minutes from the most recent Fed meeting ... MND NewsWire - 1:31PM Home Ownership Pessimism Might be Overdone -Freddie Mac Anyone who has been paying attention must know that the national homeownership rate, which has been dropping for over a decade , is now at a 50-year low. But while many experts say ... MND NewsWire - 1:17PM Dissent in CFPB Case Foreshadows Lengthy Legal Battle A federal appeals court has set aside a massive fine against mortgage lender PHH Corporation and declared that the Consumer Financial Protection Bureau (CFPB), which levied the fine ... Pipeline Press - 9:51AM CFPB Penalizes Navy Fed; What PHH v. CFPB Means For Us “This is a case about executive power and individual liberty. The U.S. Government’s executive power to enforce federal law against private citizens…is essential to ... Higher Rates Logically Pressuring Mortgage Applications MBS Day Ahead: Bonds in Rough Shape as FOMC Minutes Approach Latest Video FOMC was close to raising rates at September meeting Santelli Exchange: Fed intervention & financial instability Santelli Exchange: All the calories minus the enjoyment More News from 'Around the Web' Calculated Risk Blog - 4:17PM FOMC Minutes: "Could be greater scope for economic growth without putting undue pressure on labor markets" Bloomberg - 4:11PM Inside the Fed's September Minutes: The Annotated Meeting Reuters - 2:46PM ECB may review QE options but decision could be put off until Dec eyeonhousing.org - 2:11PM Construction Job Openings Decline in August Federal Reserve - 2:09PM Minutes of the Federal Open Market Committee, September 20-21, 2016 CNBC - 2:09PM Fed minutes: Hawks worry that delay in rate hike could cause recession Reuters - 12:50PM U.S. job openings fall to eight-month low in August blog.stewart.com - 12:48PM It's No Longer “E-Closing or Bust” to Improve the Consumer Experience Market Watch - 12:48PM Wells Fargo earnings: Here's what to expect from the embattled lender Reuters - 12:48PM Deutsche Bank to pay $9.5 million penalty over research information: SEC corporate.phh.com - 10:11AM PHH Corporation Comments on Opinion Issued by D.C. Circuit Court of Appeals freddiemac.mwnewsroom.com - 9:53AM Freddie Mac October 2016 Insight Reuters - 9:52AM Fed can be 'gentle' in hiking rates, Dudley says Today's Rates Best Execution Rate Change 30 Yr FRM 3.57% +0.01 15 Yr FRM 2.88% +0.01 FHA 30 Year Fixed 3.40% +0.00 Jumbo 30 Year Fixed 3.72% +0.01 5/1 Yr ARM 2.95% +0.01 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 3.05% 1.21 -0.03 30 Yr. Fixed 3.74% 1.37 -0.06 MBA ** 30 Yr. Fixed 3.66% 0.33 -0.04 15 Yr. Fixed 2.95% 0.38 -0.04 30 Yr. Jumbo 3.64% 0.28 -0.05 30 Yr. FHA 3.52% 0.21 -0.04 5/1 ARM 2.92% 0.40 -0.07 Freddie Mac ** 30 Yr. Fixed 3.42% 0.50 +0.00 15 Yr. Fixed 2.72% 0.50 +0.00 1 Yr. ARM 2.68% 0.20 +0.01 5/1 Yr. ARM 2.80% 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 3.0 103.09 -0.25 30YR FNMA 3.5 105.05 -0.09 30YR GNMA 3.0 104.31 -0.02 30YR GNMA 3.5 106.13 +0.06 15YR FNMA 3.0 104.66 -0.02 15YR FNMA 2.5 103.16 +0.03 Treasuries Yield Change 2 YR 0.8625% -0.0079 5 YR 1.2961% -0.0016 10 YR 1.7727% +0.0054 30 YR 2.5022% -0.0023 Prices as of: 10/12/2016 4:29PM 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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