Daily Newsletter: Mortgage Rates Remain Near Recent Highs; CFPB on Affiliate Fees; FHFA on Strategic Goals; Short Sales Losing Favor

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30 Year Fixed
4.45% -0.02
15 Year Fixed
3.51% -0.02
10YR Treasury
2.75% +0.0126
FNMA 30YR 3.5
100.81 -0.05
FNMA 15YR 2.5
103.03 -0.08
View Today’s Rates
Friday November 29, 2013
Mortgage Rate Watch – 1:05PM
Mortgage Rates Modestly Lower but Remain Near Recent Highs
Mortgage rates edged just barely lower today , but remain close to the recent highs seen on Wednesday. Along with November 12th, these 3 days contain the highest rates since the September …
MND NewsWire – 10:01AM
CFPB’s Take on Affiliate Fees, Loans Under $100k, and Several Other Recent Announcements
We have 28 business days until QM is the law of the land, and even after this commentary discussed the CFPB’s policy there still seems to be a small amount of confusion out there …
MND NewsWire – 12:15PM
FHFA Says Significant Progress Made toward Strategic GSE Goals
The Federal Housing Finance Agency (FHFA) recently released its 2013 Conservatorship Scorecard detailing the progress made by the government sponsored agencies (GSEs) Freddie Mac and …
MND NewsWire – 12:10PM
Short Sales Becoming Less Favorable For Lenders
RealtyTrac reports that the nature of distressed property sales is evolving. In its most recent report on market and distressed sales, the company noted that changing economics are …

Latest Video


Closing Bell Exchange

Santelli Exchange: Headwinds, the economy, and uncertainty

Santelli: It really is a spread game

More News from ‘Around the Web’

Today’s Comments

avatar.aspx MBS Live Chat – 10:39AM
“Dustin, we have done DU Refi Plus with previous being LPMI. You still need to get Cert transferred from current MI company….”
avatar.aspx MBS Live Chat – 11:45AM
“Lender-Purchased Mortgage Insurance New lender-purchased mortgage insurance coverage may be obtained on new DU Refi Plus and Refi Plus mortgage loans, and continuation of existing lender-purchased mortgage insurance coverage on the new loan is also permitted….”
avatar.aspx MBS Live Chat – 12:25PM
“I just did one where the LPMI was paid monthly by the lender. The MI certificate was modified to borrower paid monthly mi. Because originally it was lender paid I was unable to disclose the new MI payment. Once the lender determined that it was paid monthly by the previous lender they told me the monthly…”
Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 4.45% -0.02
15 Yr FRM 3.51% -0.02
FHA 30 Year Fixed 4.15% -0.02
Jumbo 30 Year Fixed 4.42% -0.01
5/1 Yr ARM 3.22% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.62% 1.06 +0.18
30 Yr. Fixed 4.49% 1.21 +0.22
MBA ** hdr_arrow.png
30 Yr. Fixed 4.46% 0.38 +0.02
15 Yr. Fixed 3.52% 0.33 +0.00
30 Yr. Jumbo 4.47% 0.22 -0.01
30 Yr. FHA 4.14% 0.25 -0.02
5/1 ARM 3.12% 0.27 +0.01
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 4.29% 0.70 +0.07
15 Yr. Fixed 3.30% 0.70 +0.03
1 Yr. ARM 2.60% 0.40 -0.01
5/1 Yr. ARM 2.94% 0.50 -0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 96.44 -0.02
30YR FNMA 3.5 100.81 -0.05
30YR GNMA 3.0 97.56 -0.08
30YR GNMA 3.5 101.94 -0.02
15YR FNMA 3.0 103.03 -0.08
15YR FNMA 2.5 99.81 0.00
Treasuries hdr_arrow.png
Yield Change
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
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2 YR 0.2854% -0.0039
5 YR 1.3734% +0.0114
10 YR 2.7481% +0.0126
30 YR 3.8186% +0.0054
Prices as of: 11/29/2013 1:38PM EST

23623981

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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Weekly Newsletter: Conforming Loan Limits Stay Put for 2014, Including High Cost Areas; Home Price Gains Becoming Uneven; Mortgage Rates Back to 2-Month Highs

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30 Year Fixed
4.45% -0.02
15 Year Fixed
3.51% -0.02
10YR Treasury
2.74% +0.0090
FNMA 30YR 3.5
100.81 -0.05
FNMA 15YR 2.5
103.03 -0.08
View Today’s Rates
Friday November 29, 2013
MND NewsWire – 11/26
Conforming Loan Limits Stay Put for 2014, Including High Cost Areas
Whether because of the uproar from some members of Congress, the Mortgage Bankers Association, National Association of Realtors, and other industry players or not, Edward J. DeMarco …
MND NewsWire – 11/25
Home Prices Rise Overall, but Some Areas Seeing Sharp Declines
Home prices rose again nationally in September Lender Processing Services (LPS) said today, but in many areas, notably a lot of the older mill towns in the Northeast, prices are still …
MND NewsWire – 11/22
Role of Property Tax in Health of Housing Market
Property taxes are collected by virtually all local governments; levied on land, commercial properties, and residential homes. Taxes are generally determined by a combination of the …
MND NewsWire – 11/22
Foreclosure Inventory Falls to 5 year Low
Lender Processing Services (LPS) said today that the national foreclosure pre-sale inventory is at its lowest level since 2008 . The inventory, the number of loans that are in some …
MND NewsWire – 11/27
Mortgage Applications Unchanged After Seasonal Adjustments
Applications for mortgages moved in two directions during the week ending November 22, depending on whether the figures were presented “as is” or on a seasonally adjusted basis. The …
Mortgage Rate Watch – 11/27
Mortgage Rates Back up to Recent Highs
Mortgage rates moved decidedly higher today, bringing most lenders back in line with their highest recent rate sheet offerings from November 12th. In many cases, this may result in …

Latest Video


New wave of mortgage troubles?

Expect home prices lower: Pro

Goldman’s bond guru: Do think rates go higher

More News from ‘Around the Web’

Today’s Comments

avatar.aspx MBS Live Chat – 11/27
“The day a person decides that his career is originating loans is the day they start getting more business. That day happened for me 12 or 13 years ago. Rolling into the office at 10am, leaving at 4pm, not answering the phone after hours or on the weekend is simply not the way to approach this industry…”
32323959

Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 4.45% -0.02
15 Yr FRM 3.51% -0.02
FHA 30 Year Fixed 4.15% -0.02
Jumbo 30 Year Fixed 4.42% -0.01
5/1 Yr ARM 3.22% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.62% 1.06 +0.18
30 Yr. Fixed 4.49% 1.21 +0.22
MBA ** hdr_arrow.png
30 Yr. Fixed 4.46% 0.38 +0.02
15 Yr. Fixed 3.52% 0.33 +0.00
30 Yr. Jumbo 4.47% 0.22 -0.01
30 Yr. FHA 4.14% 0.25 -0.02
5/1 ARM 3.12% 0.27 +0.01
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 4.29% 0.70 +0.07
15 Yr. Fixed 3.30% 0.70 +0.03
1 Yr. ARM 2.60% 0.40 -0.01
5/1 Yr. ARM 2.94% 0.50 -0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 96.47 +0.02
30YR FNMA 3.5 100.81 -0.05
30YR GNMA 3.0 97.56 -0.08
30YR GNMA 3.5 101.94 -0.02
15YR FNMA 3.0 103.03 -0.08
15YR FNMA 2.5 99.78 -0.03
Treasuries hdr_arrow.png
Yield Change
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
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2 YR 0.2854% -0.0039
5 YR 1.3734% +0.0114
10 YR 2.7445% +0.0090
30 YR 3.8168% +0.0036
Prices as of: 11/29/2013 1:42PM EST

23623981

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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Weekly Rate Report: Mortgage Rates Inch to Recent Highs; Volatile Week Ahead

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weeklyrateheader.png
30 Year Fixed
4.45% -0.02
15 Year Fixed
3.51% -0.02
10YR Treasury
2.75% +0.0126
FNMA 30YR 3.5
100.83 -0.03
FNMA 15YR 2.5
103.03 -0.08
View Today’s Rates
Mortgage Rates Inch to Recent Highs; Volatile Week Ahead
November 29, 2013
Market Summary
Mortgage rates, With Friday’s slight improvement, ended up looking rather flat in terms of overall movement from last Friday. Trading activity was subdued in the secondary mortgage market, making for little excitement in general, but also allowing prices to slide on Wednesday (lower prices = higher rates). Wednesday’s rates were the highest since September 18th, but just barely.

Conforming 30yr Fixed rates (best-execution) moved up to 4.5% from 4.375% at the start of the week, but several lenders made it back to 4.375%.

Next Tuesday is the only day next week that does NOT contain an important economic report in the morning. Friday hosts the Employment Situation (aka “jobs report, official employment data, NFP”) which is the most important economic report for the rest of the year.

Investors increasingly believe the Fed may move to reduce asset purchases in December if the upcoming jobs report is strong enough, though a great deal of debate remains. If that happens, it would likely result in an immediate move higher for rates–perhaps significantly. Investors will draw conclusions about the Fed decision almost immediately on Friday and may begin leaning in one direction several days in advance. The point is that we’re going from what has been a very flat few weeks to a potentially much more volatile December.

Matthew Graham, Chief Operating Officer, Mortgage News Daily

30 Year Fixed Rate Mortgage
29?w=360
Week in Review
Rates shown below are based on the 30 Year Fixed Rate Mortgage

Beginning Average: 4.43%
Ending Average: 4.45%
Weekly Change: +0.02%
Yearly Change: +1.05%

Friday, November 22, 2013 : 4.43% (-0.01%)
Mortgage rates were steady to slightly lower today, though they remain elevated on the week (read more…). Most lenders are effectively unchanged compared to yesterday’s latest rate sheets, but some are offering moderately lower closting costs for the same interest rates. The most prevalently quoted conforming 30yr fixed rate for ideal scenarios (best-execution) remains at 4.375%, with some lenders closer to 4.5%.

It was a quiet day for financial markets, offering little motivation to the Mortgage-Backed-Securities (MBS) that most directly affect mortgage rates. Most of the week’s volatility was seen on Wednesday, heading into and out of the FOMC Minutes (more…). Yesterday and today have played the role of the epilogue, offering some consolidation and closure to the main storyline that played out on Wednesday.

More detail: “Mortgage Rates Steady to Slightly Lower”

Monday, November 25, 2013 : 4.42% (-0.01%)
Mortgage rates were steady to slightly lower today despite some volatility and weakness in the Secondary Mortgage Market. This means that MBS prices (the mortgage-backed-securities that most directly affect rates) moved higher and lower at a fairly quick pace, and ultimately settled into territory that would indicate slightly higher rates. In fact, several lenders did undergo mid-day price changes that raised costs for existing rates, but not so much as to push rates themselves higher.

Once again, most lenders are very close to the previous session’s levels. On average, costs are actually a bit lower due to the majority of lenders who did not change prices mid-day. The most prevalently quoted conforming 30yr fixed rate for ideal scenarios (best-execution) remains at 4.375%.

More detail: “Mortgage Rates Relatively Unchanged; Some Mid-Day Changes”

Tuesday, November 26, 2013 : 4.42% (+0.00%)
Mortgage rates were flat again today. Some lenders were just slightly better or worse compared to yesterday, but on average, there was no change. Heading in to extended holiday weekends, it’s not uncommon to see rates show some determination to do nothing. This depends, to some extent, on whether market conditions will allow rates to stay flat. Naturally, if big enough news crossed the wires, rates would move, but we haven’t had anything in that realm so far this week. As such the the most prevalently quoted conforming 30yr fixed rate for ideal scenarios (best-execution) remains at 4.375%.

More detail: “Mortgage Rates Continue Flat, Holiday Trend”

Wednesday, November 27, 2013 : 4.47% (+0.05%)
Mortgage rates moved decidedly higher today, bringing most lenders back in line with their highest recent rate sheet offerings from November 12th. In many cases, this may result in a quoted rate being an eighth of a percentage point higher today compared to yesterday, depending on the lender and scenario. In other cases, the weakness will be seen in the form of higher closing costs or lower lender credit. With today’s rise, the most prevalently quoted conforming 30yr fixed rate for ideal scenarios (best-execution) is moving up to 4.5% though some lenders remain better-priced at 4.375%.

More detail: “Mortgage Rates Back up to Recent Highs”

Friday, November 29, 2013 : 4.45% (-0.02%)
Mortgage rates edged just barely lower today, but remain close to the recent highs seen on Wednesday. Along with November 12th, these 3 days contain the highest rates since the September 18th FOMC Announcement where the Fed held off on reducing asset purchases. On a positive note, despite the two month highs, they’re not far off from most of the recent activity. Today’s most prevalent rate quotes are going out between 4.375% and 4.5% for top tier scenarios (best-execution), whereas most of the recent activity was 4.25%-4.375%. Many lenders are closed today or are otherwise not issuing new rate sheets.

More detail: “Mortgage Rates Modestly Lower but Remain Near Recent Highs”

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 4.45% -0.02
15 Yr FRM 3.51% -0.02
FHA 30 Year Fixed 4.15% -0.02
Jumbo 30 Year Fixed 4.42% -0.01
5/1 Yr ARM 3.22% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.62% 1.06 +0.18
30 Yr. Fixed 4.49% 1.21 +0.22
MBA ** hdr_arrow.png
30 Yr. Fixed 4.46% 0.38 +0.02
15 Yr. Fixed 3.52% 0.33 +0.00
30 Yr. Jumbo 4.47% 0.22 -0.01
30 Yr. FHA 4.14% 0.25 -0.02
5/1 ARM 3.12% 0.27 +0.01
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 4.29% 0.70 +0.07
15 Yr. Fixed 3.30% 0.70 +0.03
1 Yr. ARM 2.60% 0.40 -0.01
5/1 Yr. ARM 2.94% 0.50 -0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 96.44 -0.02
30YR FNMA 3.5 100.83 -0.03
30YR GNMA 3.0 97.55 -0.09
30YR GNMA 3.5 101.91 -0.05
15YR FNMA 3.0 103.03 -0.08
15YR FNMA 2.5 99.81 0.00
Treasuries hdr_arrow.png
Yield Change
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
2 YR 0.2854% -0.0039
5 YR 1.3767% +0.0147
10 YR 2.7481% +0.0126
30 YR 3.8203% +0.0071
Prices as of: 11/29/2013 1:33PM EST

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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 presented in this report are averages and 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 Rate Update: Mortgage Rates Modestly Lower but Remain Near Recent Highs

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dailyrateheader.png
30 Year Fixed
4.45% -0.02
15 Year Fixed
3.51% -0.02
10YR Treasury
2.75% +0.0144
FNMA 30YR 3.5
100.83 -0.03
FNMA 15YR 2.5
103.06 -0.05
View Today’s Rates
Mortgage Rates Modestly Lower but Remain Near Recent Highs
November 29, 2013
Mortgage rates edged just barely lower today, but remain close to the recent highs seen on Wednesday. Along with November 12th, these 3 days contain the highest rates since the September 18th FOMC Announcement where the Fed held off on reducing asset purchases. On a positive note, despite the two month highs, they’re not far off from most of the recent activity. Today’s most prevalent rate quotes are going out between 4.375% and 4.5% for top tier scenarios (best-execution), whereas most of the recent activity was 4.25%-4.375%. Many lenders are closed today or are otherwise not issuing new rate sheets.

With today’s slight improvement, the week ends up looking rather flat in terms of overall movement from last Friday. This is about what you’d expect given the absence of significant events this week and extremely important events in the week ahead. Next Tuesday is the only day next week that does NOT contain an important economic report in the morning. Friday hosts the Employment Situation (aka “jobs report, official employment data, NFP”) which is the most important economic report for the rest of the year.

Investors increasingly believe the Fed may move to reduce asset purchases in December if the upcoming jobs report is strong enough, though a great deal of debate remains. If that happens, it would likely result in an immediate move higher for rates–perhaps significantly. Investors will draw conclusions about the Fed decision almost immediately on Friday and may begin leaning in one direction several days in advance. The point is that we’re going from what has been a very flat few weeks to a potentially much more volatile December.

Loan Originator Perspectives

“If you haven’t locked yet, you shouldn’t (or probably can’t considering many lenders lock desks are not even open) lock today. Enjoy the weekend and let’s see what happens early next week when there is substanial volume to make a case for where MBS prices go from here. We still seem to be holding the top of the recent range for the 10 year yield of 2.75ish and I am hoping that presents itself as resistance and a nice bounce back lower in yield may follow. ” -Steve Chizmadia, Mortgage Consultant, American Capital Home Loans.

“Light day to end the week. 30 Year fixed stuck firmly at 4.5%, 15 Year 3.375%. I am advising caution and locking in as all eyes turn towards next Friday’s job report.” –Chris Marconi VP Residential Lending First Midwest Bank

“Not much to say about today. The markets are open, but thinly traded as most of the key players are on extended break until Monday. As is typical, the lenders that did price today worsened sheets considerably. Float til Monday.” –Victor Burek, Open Mortgage

“An abbreviated post Thanksgiving session was quiet today, many lenders and lock desks sleeping off yesterday’s dinners. Been a great year for borrowers and originators. Whether rates trend up or down, need to remember we’re blessed to live in a country where housing is generally affordable and assessable. Happy Thanksgiving, everyone.” –Ted Rood, Senior Originator

Today’s Best-Execution Rates

  • 30YR FIXED – 4.5%
  • FHA/VA – 4.25%-3.75% (depends heavily on lender)
  • 15 YEAR FIXED – 3.5%
  • 5 YEAR ARMS – 3.0-3.50% depending on the lender


Ongoing Lock/Float Considerations

  • Uncertainty over the Fed’s bond-buying plans and Fiscal Policy has been making for a tough interest rate environment where we’re not seeing sustained improvement unless it’s a correction to even bigger deterioration.
  • The Fed’s bond buying is the key consideration–not just the initial reduction (aka “tapering”), but the general pace of withdrawal. We’ve gone from tapering being a “sure thing” in September, to it being on hold until March 2014, and now December 2013 is increasingly possible after the most recent Employment report on Nov 8th.
  • Markets continue to be most interested in economic data and its suggestions about the longer term trajectory of the economy. This will shape expectations for Fed policy in the coming months, and thus inform the direction of interest rates.
  • The stronger the data the more likely the Fed is seen as reducing asset purchases. Rates would rise under this scenario, but the Fed indicated its cognizance of high rates creating headwinds for the recovery, and this suggests they’ll attempt to keep the pace of rising rates moderate as long as inflation isn’t adversely affected.
  • (As always, please keep in mind that our Best-Execution rate always pertains to a completely ideal scenario. There are many reasons a quoted rate may differ from our average rates, and in those cases, assuming you’re following along on a day to day basis, simply use the Best-Ex levels we quote as a baseline to track potential movement in your quoted rate).

30 Year Fixed Rate Mortgage
29?w=360
15 Year Fixed Rate Mortgage
29?w=360&p=15YRFRM

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Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 4.45% -0.02
15 Yr FRM 3.51% -0.02
FHA 30 Year Fixed 4.15% -0.02
Jumbo 30 Year Fixed 4.42% -0.01
5/1 Yr ARM 3.22% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.62% 1.06 +0.18
30 Yr. Fixed 4.49% 1.21 +0.22
MBA ** hdr_arrow.png
30 Yr. Fixed 4.46% 0.38 +0.02
15 Yr. Fixed 3.52% 0.33 +0.00
30 Yr. Jumbo 4.47% 0.22 -0.01
30 Yr. FHA 4.14% 0.25 -0.02
5/1 ARM 3.12% 0.27 +0.01
Freddie Mac ** hdr_arrow.png
Current Mortgage Rates »
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
30 Yr. Fixed 4.29% 0.70 +0.07
15 Yr. Fixed 3.30% 0.70 +0.03
1 Yr. ARM 2.60% 0.40 -0.01
5/1 Yr. ARM 2.94% 0.50 -0.01

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 96.44 -0.02
30YR FNMA 3.5 100.83 -0.03
30YR GNMA 3.0 97.56 -0.08
30YR GNMA 3.5 101.94 -0.02
15YR FNMA 3.0 103.06 -0.05
15YR FNMA 2.5 99.81 0.00
Treasuries hdr_arrow.png
Yield Change
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
2 YR 0.2854% -0.0039
5 YR 1.3799% +0.0179
10 YR 2.7499% +0.0144
30 YR 3.8212% +0.0080
Prices as of: 11/29/2013 1:27PM EST

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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available. We use a proprietary formula to calculate averages based on best-execution rates from top lender’s rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.
© 2013 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
View this Report in your Web Browser | Forward to a Friend | Subscribe
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 presented in this report are averages and are subject to change without notice.
You were sent this email because you opted to receive our weekly or daily email reports. Go here to manage your email preferences or here to unsubscribe from all email communications.

MND NewsWire – FHFA Says Significant Progress Made toward Strategic GSE Goals

FHFA Says Significant Progress Made toward Strategic GSE Goals

Posted to: MND NewsWire
Tuesday, November 26, 2013 12:30 PM

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The Federal Housing Finance Agency (FHFA) recently released its 2013 Conservatorship Scorecard detailing the progress made by the government sponsored agencies (GSEs) Freddie Mac and Fannie Mae in meeting the strategic goals set for them so far this year under FHFA’s 2012 Strategic Plan. The plan sets forth three principal goals for the current phase of the GSE conservatorship:

1. Build a new infrastructure for the secondary mortgage market;

2. Gradually contract the Enterprises’ dominant presence in the marketplace while simplifying and shrinking their operations; and

3. Maintain foreclosure prevention activities and credit availability for new and refinanced mortgages.

Reduction of the governments risk in the single-family mortgage credit market requires giving investors greater certainty and confidence in the rules, policies, data, and disclosures used in mortgage securitization. In order to build a new infrastructure for single-family mortgage securitization the GSEs need to develop a model Contractual and Disclosure Framework (CDF) that will help foster that certainty and confidence.

The GSEs made significant progress toward achieving interim goals in developing that framework. A joint GSE team has analyzed and compared certain policies and practices relating to fully guaranteed mortgage-backed securities (MBS) while noting comparable practices in the private-label market. By year-end 2013 the team will recommend ways to align the GSEs’ policies and practices in each area. The team has focused on identifying best practices for non-guaranteed MBS, including those partially guaranteed by the GSEs and has begun a review and analysis of differences in the GSEs’ Master Trust Agreements.

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MND NewsWire – Short Sales Becoming Less Favorable For Lenders

Short Sales Becoming Less Favorable For Lenders

Posted to: MND NewsWire
Monday, November 25, 2013 6:27 PM

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RealtyTrac reports that the nature of distressed property sales is evolving. In its most recent report on market and distressed sales, the company noted that changing economics are increasing the reliance on more traditional third party purchases at foreclosure auctions rather than the lender/borrower negotiated sale at less than the outstanding loan balance.

RealtyTrac has adopted a new methodology for accounting for short sales with the distressed and market rate sales report released Monday. The company now applies a calculation to take into account the true loan balance secured by a home at the time of the sale, and additionally separating out of the short sale classification properties that sell at a public foreclosure auction short of the loan balance. It is also including a new category of distressed sale in the report: third-party foreclosure auction sales, which represent sales at the public foreclosure auction to third parties other than the foreclosing lender.

Sales in the new category of auction sales to a third party represented 2.5 percent of sales compared to 2.8 percent in September and nearly twice the 1.3 percent share a year earlier. Significant numbers of these auction sales occurred in Orlando and Jacksonville, Florida, each at 8.6 percent and Columbia, South Carolina at 8.1 percent.

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MBS Commentary – MBS MID-DAY: Slightly Weaker but Well Within Wednesday’s Range

MBS MID-DAY: Slightly Weaker but Well Within Wednesday’s Range

Posted to: MBS Commentary
Friday, November 29, 2013 11:05 AM

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MBS Live: MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.

FNMA 3.0
96-12 : -0-04
FNMA 3.5
100-25 : -0-03
FNMA 4.0
104-08 : -0-01
FNMA 4.5
106-21 : -0-01
GNMA 3.0
97-15 : -0-04
GNMA 3.5
101-28 : -0-02
GNMA 4.0
105-04 : -0-01
GNMA 4.5
107-11 : -0-01
FHLMC 3.0
95-30 : -0-04
FHLMC 3.5
100-17 : -0-03
FHLMC 4.0
103-29 : -0-01
FHLMC 4.5
106-14 : +0-02
Pricing as of 11:05 AM EST

Morning Reprice Alerts and Updates
Below is a recap of instant Reprice Alerts and updates issued via email and text alert to MBS Live subscribers this morning.