Daily Newsletter: Mortgage Rates Soar Following Fed Minutes; CFPB Blasted; BofA Back in Lending

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30 Year Fixed 3.49%   +0.06 15 Year Fixed 2.84%   +0.06 10YR Treasury 1.91%   +0.0759 FNMA 30YR 3.5 106.14   -0.34 FNMA 15YR 2.5 105.41   -0.13 View Today's Rates

Thursday January 3, 2013 Mortgage Rate Watch - 5:05PM Mortgage Rates Soar To Multi-Month Highs Following Fed Minutes Mortgage rates soared to their highest levels in months today after Minutes from the Fed's most recent policy meeting showed the board to be more divided concerning the continuation ... MND NewsWire - 5:08PM House Committee Chairs Blast CFPB's "Virtually Limitless Power" Shortly before recessing for the holidays the Chairmen of the House Committee on Oversight and Government Reform and of its Subcommittee on TARP, Financial Services and Bailouts of ... Pipeline Press - 10:30AM Bank of America is Back in Lending; Thoughts on Basel III and MSR's; Investors Like Residential Mortgages Fixed rate 30-yr. mortgages at 2.6%! Yippee!!! Oh...wait a minute...the New York Fed tells us why they aren't there yet. CMG Financial is a multi-billion dollar lender that has experienced ... MND NewsWire - 9:24AM Mortgage Applications take Holiday Break, Falling 21.6% As is always expected, mortgage applications activity for the last two full weeks of 2012 fell dramatically . The Mortgage Bankers Association (MBA), after a one week hiatus for the ... MBS RECAP: FOMC Minutes Drop Afternoon Tape Bomb On Rates 2012 GSE Home Retention Actions Near Half-Million Mark Completed Foreclosures Down 23% as Short Sales Gain Momentum To be Frank: The Gift That Keeps on Giving Shadow Inventory Decline Continues, Currently at 7.2 Month Supply NAR Weighs in on Cliff Deal; M&A and Concentration in Banking - Could Lenders Share Back Office Functions? Mortgage Jobs Heading into 2013; Several States' Minimum Wages to Rise Tomorrow; Agency and Investor Updates Continue Latest Video End of QE Before End of 2013? Santelli: Cowboys and Central Bankers Sen. Shelby: 'We're Committing Financial Suicide' More News from 'Around the Web' CNBC - 2:27PM Some Members See QE End Before End of 2013: Fed Federal Reserve - 2:26PM Minutes of the Federal Open Market Committee, December 11-12, 2012 CNBC - 1:53PM Boehner Re-Elected Speaker as New Congress Convenes Bloomberg - 1:38PM Geithner Said to Plan Departure Before Debt Ceiling Deal - Bloomberg FHFA - 1:30PM Fannie Mae and Freddie Mac Help More Than 2.5 Million with Foreclosure Prevention Actions freddiemac.mwnewsroom.com - 10:07AM Freddie Mac: Mortgage Rates Start the New Year Near All-Time Record Lows Bloomberg - 8:13AM Housing Lobby's Win Costing U.S. $600 Billion: Mortgages CNBC - 8:12AM BofA Raises Lending After Years of Cuts Today's Comments Mortgage Rate Watch - 10:16PM "Rates didn't suffer as much today as they might have, given the strength in equities. That's a big positive, and bodes well for MBS over the next two months while Capital Hill pontificates over the next fiscal crisis...." MBS Live Chat - 3:17PM "REPRICE : 3:17 PM - Citi Worse..." MBS Live Chat - 3:19PM "REPRICE : 3:19 PM - Icon Wholesale Worse..." MBS Live Chat - 3:23PM "REPRICE : 3:23 PM - Stearns Lending Worse..." MBS Live Chat - 3:28PM "REPRICE : 3:28 PM - PHH Worse..." MBS Live Chat - 3:32PM "REPRICE : 3:32 PM - Flagstar Worse..." Today's Rates Best Execution Rate Change 30 Yr FRM 3.49% +0.06 15 Yr FRM 2.84% +0.06 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.69% +0.06 5/1 Yr ARM 2.98% +0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.81% 1.00 -0.10 30 Yr. Fixed 3.54% 1.24 -0.08 MBA ** 30 Yr. Fixed 3.50% 0.44 +0.03 15 Yr. Fixed 2.83% 0.26 -0.02 30 Yr. Jumbo 3.73% 0.29 -0.04 30 Yr. FHA 3.34% 0.54 +0.02 5/1 ARM 2.61% 0.36 -0.02 Freddie Mac ** 30 Yr. Fixed 3.34% 0.70 -0.01 15 Yr. Fixed 2.64% 0.60 -0.01 1 Yr. ARM 2.57% 0.40 +0.01 5/1 Yr. ARM 2.71% 0.60 +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 3.0 104.06 -0.55 30YR FNMA 3.5 106.14 -0.34 30YR GNMA 3.0 105.47 -0.61 30YR GNMA 3.5 108.09 -0.41 15YR FNMA 3.0 105.41 -0.13 15YR FNMA 2.5 104.22 -0.27 Treasuries Yield Change 2 YR 0.2708% +0.0120 5 YR 0.8221% +0.0561 10 YR 1.9112% +0.0759 30 YR 3.1242% +0.0815 Prices as of: 1/3/2013 4:32PM 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. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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Daily Newsletter: Cliff Deal Pressures Mortgage Rates; Shadow Inventory; To be Frank

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30 Year Fixed 3.43%   +0.02 15 Year Fixed 2.78%   +0.02 10YR Treasury 1.84%   +0.0000 FNMA 30YR 3.5 106.48   0.00 FNMA 15YR 2.5 105.53   0.00 View Today's Rates

Wednesday January 2, 2013 Mortgage Rate Watch - 2:48PM Mortgage Rates Pressured Higher After Fiscal Cliff Deal Mortgage rates moved to their highest levels since December 19th this morning after Congress passed a last-minute bill softening the blow of the Fiscal Cliff. The legislation has been ... MND NewsWire - 12:12PM Shadow Inventory Decline Continues, Currently at 7.2 Month Supply The residential shadow inventory of distressed homes continues to shrink according CoreLogic's monthly report for October. The improvement is across all metrics; number of units, months ... Pipeline Press - 11:17AM NAR Weighs in on Cliff Deal; M&A and Concentration in Banking - Could Lenders Share Back Office Functions? On this Wednesday that seems like a Monday, politicians in Washington celebrated after kind of averting a completely unnecessary crisis that was entirely of its own creation. One blog ... Community Commentary - 4:08PM To be Frank: The Gift That Keeps on Giving One of my favorite movies this time of year is Christmas Vacation. Being a multiple year winner of neighborhood light contests, I am inspired by the auxiliary nuclear power supporting ... MBS RECAP: Holding Ground Fairly Well Against Post-Cliff-Deal Weakness Mortgage Jobs Heading into 2013; Several States' Minimum Wages to Rise Tomorrow; Agency and Investor Updates Continue Another Multi-Billion Dollar Foreclosure Abuse Settlement Likely Consumer Loan Defaults Hit New Lows while Mortgage Defaults Rise MBA, Others Weigh in on LO Training and Licensing; In Conjunction with States, the CFPB Flexes its Muscles Mortgage Forgiveness Act in Jeopardy? Hiring and Retaining Employees the CFPB Way Latest Video Housing Higher on 'Fiscal Cliff' Agreement Santelli's Midday Bond Report Bill Gross Reacts to Tax Deal More News from 'Around the Web' CNBC - 4:10PM 'Cliff' Deal Does Not Mean 'Meaningful Improvement' in US Debt Ratio: Moody's The Big Picture - 12:31PM Long Interest Rates, 1790 to Present Bloomberg - 2:17PM OCC Says Almost 500000 Seek Reviews of Foreclosures www.aia.org - 11:56AM Architects Issue Statement on "Fiscal Cliff" Vote NY Fed - 12:20PM Why Isn't the Thirty-Year Fixed-Rate Mortgage at 2.6 Percent? Realtor.Org - 11:15AM Senate 'Cliff' Bill Retains Mortgage Cancellation Relief Reuters - 11:03AM Construction spending posts first decline in eight months The Big Picture - 8:39PM Shiller Remains Cautious on Housing Today's Comments Mortgage Rate Watch - 12:40AM "Locked a 15 year this PM at 2.75%. With rates this good, I'm hesitant to float as the potential for improvement, while there, is less than the potential for rates worsening...." Pipeline Press - 4:14PM "I don't see them requiring bank LO's to pass licensing tests. The biggest banks have way too many personal bankers selling 1st lien portfolio loans. In large these employees do not have much experience in mortgage and offer these loans, along with the traditional assortment of checking, savings, and..." Mortgage Rate Watch - 11:50PM "MG!!!..." Mortgage Rate Watch - 5:04PM "From what I've seen, pricing on loans I looked at improved today. Not taking that for granted as any perceived progress on fiscal cliff has the ability to worsen pricing, even if it's something as seemingly inconsequential as a press conference. Locking them as they come in, don't want to gamble with..." Recent Q & A "Can LO commissions be returned? " "I haven't paid my second mortg in over 3yrs. Will it be off credit in 7 yrs?" "3 unit jumbo non owner purchase, $900,000 on the loan, 70 LTV,Strong borrower. Who will consider? " Today's Rates Best Execution Rate Change 30 Yr FRM 3.43% +0.02 15 Yr FRM 2.78% +0.02 FHA 30 Year Fixed 3.25% +0.00 Jumbo 30 Year Fixed 3.63% +0.02 5/1 Yr ARM 2.96% -0.02 Current Mortgage Rates » What are best-execution rates? Average Mortgage Rates Rate Points Change FHFA * 15 Yr. Fixed 2.81% 1.00 -0.10 30 Yr. Fixed 3.54% 1.24 -0.08 MBA ** 30 Yr. Fixed 3.50% 0.44 +0.03 15 Yr. Fixed 2.83% 0.26 -0.02 30 Yr. Jumbo 3.73% 0.29 -0.04 30 Yr. FHA 3.34% 0.54 +0.02 5/1 ARM 2.61% 0.36 -0.02 Freddie Mac ** 30 Yr. Fixed 3.35% 0.70 -0.02 15 Yr. Fixed 2.65% 0.70 +0.00 1 Yr. ARM 2.56% 0.50 +0.04 5/1 Yr. ARM 2.70% 0.70 -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 3.0 104.61 0.00 30YR FNMA 3.5 106.48 0.00 30YR GNMA 3.0 106.08 0.00 30YR GNMA 3.5 108.50 0.00 15YR FNMA 3.0 105.53 0.00 15YR FNMA 2.5 104.48 0.00 Treasuries Yield Change 2 YR 0.2588% +0.0000 5 YR 0.7660% +0.0000 10 YR 1.8353% +0.0000 30 YR 3.0427% +0.0000 Prices as of: 1/2/2013 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. © 2013 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

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