MBS RECAP: Bond Markets Loving Month End, and Life in General

MBS RECAP: Bond Markets Loving Month End, and Life in General

Posted to: MBS Commentary
Friday, January 30, 2015 5:29 PM

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Nothing has materially changed from the Mid-Day recap, so for the nuts and bolts of today’s rally, that would be the best place to get caught up:

MBS MID-DAY: Everyone Loves Bonds! Except Greek Bonds!

You’ll notice that both titles contain some form of “love,” and that’s really the best way to characterize the market’s infatuation with and lust for strong sovereign debt. Guaranteed tradeflows into German Bunds (and the rest of the Eurozone) are a big help, but more than that, the absence of inflation and ongoing global growth concerns are increasingly unmanageable…

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Weekly Newsletter: Mortgage Rates’ Decisive Drop to Long-Term Lows; 2014 Average LTV, FICO, Loan Type, Etc; Recovery has Barely Reached 1st Base; Lessons from CFPB Action

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30 Year Fixed
3.55% -0.06
15 Year Fixed
2.95% -0.04
10YR Treasury
1.65% -0.1139
FNMA 30YR 3.5
105.70 +0.30
FNMA 15YR 2.5
105.14 +0.19
View Today’s Rates
Friday January 30, 2015
Mortgage Rate Watch – 1/30
Mortgage Rates Shoot Past Recent Lows; 3.5% Getting More Prevalent
Mortgage rates moved lower today at their fastest pace since January 14th. Rates sheets moved well past recent lows and back to levels not seen since May 10th 2013. That was the day …
MND NewsWire – 1/29
Averages in 2014: LTV, FICO, Loan Types, and More
Fifty-six percent of loans closed in December were for home purchase, somewhat lower than the average for 2014 as a whole according to the Origination Insights Report from Ellie Mae …
MND NewsWire – 1/27
Case-Shiller: Recovery has Barely Reached First Base
As has been the case for some months the latest report from S&P/Case Shiller shows a continued slowing of home price increases. November results for both the 10-City and 20-City …
Pipeline Press – 1/28
Lessons From the CFPB/Wells/Chase Order; FDIC Video on LO Comp; Training and Events
Don’t forget that last Friday Ocwen Financial reached a settlement with a California regulator that will allow it to continue operating in the state. As part of a consent order with …

Latest Video


Santelli: 10-year drops below key level

FHA lowering annual premiums

Mixed housing message

More News from ‘Around the Web’

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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 3.55% -0.06
15 Yr FRM 2.95% -0.04
FHA 30 Year Fixed 3.25% +0.00
Jumbo 30 Year Fixed 3.58% -0.03
5/1 Yr ARM 3.13% -0.11

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.80% 0.29 -0.09
15 Yr. Fixed 3.10% 0.29 -0.06
30 Yr. Jumbo 3.86% 0.23 -0.02
30 Yr. FHA 3.66% 0.15 -0.05
5/1 ARM 2.87% 0.41 -0.07
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 3.66% 0.60 +0.03
15 Yr. Fixed 2.98% 0.50 +0.05
1 Yr. ARM 2.38% 0.40 +0.01
5/1 Yr. ARM 2.86% 0.40 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.47 +0.45
30YR FNMA 3.5 105.70 +0.30
30YR GNMA 3.0 103.77 +0.36
30YR GNMA 3.5 105.84 +0.25
15YR FNMA 3.0 105.14 +0.19
15YR FNMA 2.5 103.45 +0.30
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
TR_Eikon_Email.png
2 YR 0.4567% -0.0630
5 YR 1.1596% -0.1151
10 YR 1.6458% -0.1139
30 YR 2.2274% -0.0987
Prices as of: 1/30/2015 4:30PM 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.
© 2015 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 Drop Decisively to New Long-Term Lows

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weeklyrateheader.png
30 Year Fixed
3.55% -0.06
15 Year Fixed
2.95% -0.04
10YR Treasury
1.65% -0.1139
FNMA 30YR 3.5
105.70 +0.30
FNMA 15YR 2.5
105.14 +0.19
View Today’s Rates
Mortgage Rates Drop Decisively to New Long-Term Lows
January 30, 2015
Market Summary
Mortgage rates moved lower on 4 out of 5 days this week. Friday’s move was the biggest and brought them to levels not seen since May 9, 2013. 3.625% was widely available all week as a conforming 30yr fixed quote for top tier scenarios. By Friday, 3.5% was becoming increasingly prevalent.

The analogy of the falling knife continues to apply to attempts at timing the bottom of this rate move. Since late December, any time rates have begun creeping higher, they’ve quickly reversed course and made new lows. This trend CAN end any time, but it hasn’t yet, and there’s not a great argument for that to happen until some fundamental changes occur at home and abroad. These are big, slow changes to boot, like inflation and wage growth as well as general global economic growth concerns.

Matthew Graham, Chief Operating Officer, Mortgage News Daily

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

Beginning Average: 3.65%
Ending Average: 3.55%
Weekly Change: -0.10%
Yearly Change: -0.77%

Friday, January 23, 2015 : 3.65% (-0.04%)
Mortgage rates were modestly lower today, and are now getting back in line with levels not seen in more than 20 months. Only the last 3 days of last week were any better. That said, the amount of improvement in the mortgage market pales in comparison to other parts of the bond market that are normally much more correlated. For instance, 10yr Treasury yields moved 0.08% lower today. Average mortgage rates barely managed half that.

In general, the broader bond market is insanely volatile and insanely illiquid right now. lliquidity refers not to an absence of volume, but to small numbers of buyers and sellers interested in transacting at any given price. The buying and selling of bonds (which includes the mortgage-backed securities) moves rates higher and lower. The more buyers and sellers there are, the easier it is for markets to hone in on a price and manage volatility. The secondary mortgage market thrives on liquidity and price stability. The more volatile bond markets are, and the harder it is to find a buyer or seller, the less valuable mortgage-backed-securities become relative to other, less tempermental investments.

More detail: “Mortgage Rates Move Back toward Long-Term Lows”

Monday, January 26, 2015 : 3.64% (-0.01%)
Mortgage rates were unchanged in most cases today, though some lenders were microscopically higher or lower compared to last Friday. Any attempts at more meaningful market movement were seen in the overnight trading hours in Asia and Europe. Rates stood a good chance to improve after election results in Greece, based on the market’s reaction overnight. By morning, however, bond markets (which inform mortgage rates) were right back were they spent most of Friday, thus leaving us with the relatively unchanged mortgage rate sheets. Most lenders are still quoting 3.625% for top tier conforming 30yr fixed scenarios.

Apart from the overnight drama in Europe, there wasn’t much going on domestically today. In general, markets are still sorting out their reaction to last week’s even bigger news regarding Europe’s new Quantitative Easing measures. Today is the first day where European Bond markets took a break from the relative euphoria that pervaded Thursday and Friday’s trading. If that ‘break’ continues tomorrow, it would increase the risks that the recent trend toward long-term low rates is at risk of shifting.

More detail: “Mortgage Rates Unchanged Amid Lack of Motivation”

Tuesday, January 27, 2015 : 3.62% (-0.02%)
Mortgage rates continued a recent pattern of small day-to-day changes today. This time, however, lenders were more unified in a move to slightly lower rates. The recent norm has been for different lenders to move in different directions but for the average to stay fairly close to unchanged. 3.625% remains intact as the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios. A few lenders are already back down to 3.5% though the costs are still a little higher than they were two weeks ago.

This morning’s economic data provided an initial boost for rates markets as the important Durable Goods report was much weaker than expected. Weak economic data tends to benefit bond markets and hurt stocks. That said, stocks were already arguably under pressure related to earnings season. When they bounced back in the afternoon, bond markets followed, resulting in several lenders raising rates later in the day.

More detail: “Mortgage Rates Improve Modestly Ahead of Fed Announcement”

Wednesday, January 28, 2015 : 3.60% (-0.02%)
Mortgage rates fell again today, and while the move wasn’t big, it was enough to bring most lenders back in line with the best rates from two weeks ago. Those have the added distinction of being the best rates since May 2013. At these levels, 3.625% is widely available as a top tier conforming 30yr fixed quote and a few lenders are quoting 3.5%. Even if your lender isn’t, you can likely choose to pay higher upfront costs in exchange for the lower rate. This is neither good nor bad, but simply a matter of personal preference. You can divide the upfront cost increase by the monthly payment savings to determine how many months it would take to break even on the additional expense. If the trade-off makes sense to you, it makes sense. If not, stick with the higher rate.

More detail: “Mortgage Rates Back to Long Term Lows After Fed”

Thursday, January 29, 2015 : 3.61% (+0.01%)
Mortgage rates were steady to slightly higher today on average. Some lenders were actually slightly lower, but they were the exception. In contrast to yesterday, the bond markets that underlie rate movements were exceedingly calm, and what little movement there was came in measured doses. This sort of low-altitude, sideways bounce is a fairly common occurrence following a bigger move lower in bond markets.

The distinction between bond markets and mortgage rates is important here, because mortgage lenders haven’t been able to pass along all of the gains implied by trading levels. If markets manage to calm down a bit, that means rates have some room to improve even if trading levels simply hold steady. That process can only happen gradually over multiple days and could easily be thrown off by more volatility.

More detail: “Mortgage Rates Holding Near Long-Term Lows”

Friday, January 30, 2015 : 3.55% (-0.06%)
Mortgage rates moved lower today at their fastest pace since January 14th. Rates sheets moved well past recent lows and back to levels not seen since May 10th 2013. That was the day that the Wall Street Journal’s Hilsenrath suggested the Fed was mapping an exit from stimulus, which sent markets into the tailspin that was effectively the prologue to the taper tantrum. It’s amazing, or at least interesting to consider that asset purchases have now been fully phased and that a rate hike is a much more immediate threat, yet rates are back to where they were before markets really began adjusting for all that “stuff.” That’s the power of global economic turmoil and a troubling lack of inflation for core economies.

More detail: “Mortgage Rates Shoot Past Recent Lows; 3.5% Getting More Prevalent “

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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 3.55% -0.06
15 Yr FRM 2.95% -0.04
FHA 30 Year Fixed 3.25% +0.00
Jumbo 30 Year Fixed 3.58% -0.03
5/1 Yr ARM 3.13% -0.11

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.80% 0.29 -0.09
15 Yr. Fixed 3.10% 0.29 -0.06
30 Yr. Jumbo 3.86% 0.23 -0.02
30 Yr. FHA 3.66% 0.15 -0.05
5/1 ARM 2.87% 0.41 -0.07
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 3.66% 0.60 +0.03
15 Yr. Fixed 2.98% 0.50 +0.05
1 Yr. ARM 2.38% 0.40 +0.01
5/1 Yr. ARM 2.86% 0.40 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.47 +0.45
30YR FNMA 3.5 105.70 +0.30
30YR GNMA 3.0 103.77 +0.36
30YR GNMA 3.5 105.84 +0.25
15YR FNMA 3.0 105.14 +0.19
15YR FNMA 2.5 103.45 +0.30
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 0.4567% -0.0630
5 YR 1.1596% -0.1151
10 YR 1.6458% -0.1139
30 YR 2.2274% -0.0987
Prices as of: 1/30/2015 4:30PM EST

TR_Eikon_Email.png

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.

© 2015 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031

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Daily Newsletter: Rates Shoot Past Recent Lows; 3.5% Getting More Prevalent; Affordable Housing Rules Set; Income Inequality and Housing; Everyone Loves Bonds!

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dailynewsletter.png
30 Year Fixed
3.55% -0.06
15 Year Fixed
2.95% -0.04
10YR Treasury
1.65% -0.1139
FNMA 30YR 3.5
105.70 +0.30
FNMA 15YR 2.5
105.14 +0.19
View Today’s Rates
Friday January 30, 2015
Mortgage Rate Watch – 3:51PM
Mortgage Rates Shoot Past Recent Lows; 3.5% Getting More Prevalent
Mortgage rates moved lower today at their fastest pace since January 14th. Rates sheets moved well past recent lows and back to levels not seen since May 10th 2013. That was the day …
MND NewsWire – 3:32PM
Rules Set for Disbursement of Affordable Housing Funds
When Federal Housing Finance Agency Director Melvin L. Watts testified before the House Financial Services Committee early this week he said that FHFA had notified Fannie Mae and Freddie …
MND NewsWire – 3:26PM
CoreLogic: Income Inequality and the Housing Market
The topic of income inequality is, as they say, trending, and this has moved CoreLogic to look at the nature of incomes and homeowners. In a recent article in the company’s Housing …
MBS Commentary – 1:13PM
MBS MID-DAY: Everyone Loves Bonds! Except Greek Bonds!
The overnight session was orderly and positive for Treasuries. Yields continued mechanically grinding lower from yesterday’s bounce at 1.785 (10yr Treasuries). Early domestic traders …

Latest Video


Santelli: 10-year drops below key level

Household formation jumped to 1.7 million

Greece says will not cooperate with troika

More News from ‘Around the Web’

Velocify_160x175.png

Today’s Rates

Best Execution hdr_arrow.png
Rate Change
Current Mortgage Rates »
What are best-execution rates?
30 Yr FRM 3.55% -0.06
15 Yr FRM 2.95% -0.04
FHA 30 Year Fixed 3.25% +0.00
Jumbo 30 Year Fixed 3.58% -0.03
5/1 Yr ARM 3.13% -0.11

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.80% 0.29 -0.09
15 Yr. Fixed 3.10% 0.29 -0.06
30 Yr. Jumbo 3.86% 0.23 -0.02
30 Yr. FHA 3.66% 0.15 -0.05
5/1 ARM 2.87% 0.41 -0.07
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 3.66% 0.60 +0.03
15 Yr. Fixed 2.98% 0.50 +0.05
1 Yr. ARM 2.38% 0.40 +0.01
5/1 Yr. ARM 2.86% 0.40 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.47 +0.45
30YR FNMA 3.5 105.70 +0.30
30YR GNMA 3.0 103.77 +0.36
30YR GNMA 3.5 105.84 +0.25
15YR FNMA 3.0 105.14 +0.19
15YR FNMA 2.5 103.45 +0.30
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
TR_Eikon_Email.png
2 YR 0.4567% -0.0630
5 YR 1.1596% -0.1151
10 YR 1.6458% -0.1139
30 YR 2.2274% -0.0987
Prices as of: 1/30/2015 4:30PM 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.
© 2015 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
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.

Daily Rate Update: Mortgage Rates Shoot Past Recent Lows; 3.5% Getting More Prevalent

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dailyrateheader.png
30 Year Fixed
3.55% -0.06
15 Year Fixed
2.95% -0.04
10YR Treasury
1.65% -0.1139
FNMA 30YR 3.5
105.70 +0.30
FNMA 15YR 2.5
105.14 +0.19
View Today’s Rates
Mortgage Rates Shoot Past Recent Lows; 3.5% Getting More Prevalent
January 30, 2015
Mortgage rates moved lower today at their fastest pace since January 14th. Rates sheets moved well past recent lows and back to levels not seen since May 10th 2013. That was the day that the Wall Street Journal’s Hilsenrath suggested the Fed was mapping an exit from stimulus, which sent markets into the tailspin that was effectively the prologue to the taper tantrum. It’s amazing, or at least interesting to consider that asset purchases have now been fully phased and that a rate hike is a much more immediate threat, yet rates are back to where they were before markets really began adjusting for all that “stuff.” That’s the power of global economic turmoil and a troubling lack of inflation for core economies.

The specific result today is the greatly-increased prevalence of 3.5% as a conforming 30yr fixed quote for top tier scenarios. 3.625% is ubiquitously available, but again, keep in mind that these rates refer to top tier scenarios with 25% equity or more, and high credit scores among other things. The important part is the day-over-day change and the relationship to recent levels. In other words, no matter what you were quoted in the past few weeks, if your scenario is the same, today’s rates are better.

In terms of how to approach this rate environment, the analogy of the falling knife continues to apply. Time and time again since late December, any move toward higher rates has proved fleeting. That CAN end any time, but it hasn’t yet. One common strategy for those that want to keep floating in the hopes of further gains would be to set a limit at slightly higher rates than today’s quote and keep floating until that limit is reached. For instance, if you’re being quoted 3.5% today, you could plan to lock if your rate rose to 3.625%. It’s the same concept as a “stop-loss” employed by investors. Whatever you do, be sure to coordinate on your strategywith your originator.

For the knife-catchers out there, today is the best day in more than 20 months. No one could fault you for locking. Combine that with the fact that the end of the month tends to be a slightly better time for bond markets (which affect mortgage rates), and you can make a perfectly fine case for catching that knife–especially if you have a shorter term time horizon.


Loan Originator Perspective

“With the rally we saw this morning, the only way i would advise to lock today is if your lender gives a late day reprice for the better. That is unlikely with today being a Friday. The rate sheets i have viewed are improved over yesterday, but lenders havent passed along all the improvements. I continue to favor floating all loans.” –Victor Burek, Open Mortgage

“The rally that won’t stop or will it? This is great for home purchasers and those seeking to refinance as well. I never would have thought rates in the middle 3s would ever make the rounds again, but here we are. Locking now is not a bad idea though a run to lower rates could continue. Judgment call based on risk reward analysis and the ability to lock quickly if the tide turns” –Michael Owens, VP of Mortgage Lending, Guaranteed Rate, Inc.

“I suggested floating yesterday and today that decision would be paying dividends. What should you do from here? I’m always an advocate of taking your improvement and locking, but I still think floating is the best option….for now. The 10 year treasury is at 1.68 and this may simply be a test below 1.7, but it could be the sign of a move much lower. Float but do so cautiously, and be ready to lock.” –Brent Borcherding, brentborcherding.com

“Rates are solidly at the lows of the years today as bonds advanced further. Bonds are now at a point where profit taking may ensue. Lenders however have not been passing all the market gains to rate sheets so even if bonds pull back a bit we may not see a significant change to rates. Longer term I still see rates decreasing but we now need to be in guard and start locking loans closing in under two weeks.” –Manny Gomes, Branch Manager Norcom Mortgage

“European bond markets posted robust gains today, dragging both US treasuries and MBS along for the ride. While today’s rate sheets were certainly good, it appears there’s still more improvement to come. I’m floating my new loans for the moment (with an eye on bond markets, of course) while locking those within 15 days of closing. It’s a great time to be a borrower!” –Ted Rood, Senior Originator


Today’s Best-Execution Rates

  • 30YR FIXED – 3.5-3.625
  • FHA/VA – 3.25
  • 15 YEAR FIXED – 2.875
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender

Ongoing Lock/Float Considerations

  • 2015 began with a strong move to the lowest rates seen since May 2013. The catalyst has been and continues to be Europe.
  • European bond yields trended constantly lower in 2014, thus playing a prominent role in keeping US rates lower than they otherwise might be. Many feel that Europe will continue to slide until their central bank engages in US-style quantitative easing. Some see this happening in early 2015. In any event, we’re looking for a turn in Europe, first and foremost, before worrying about the longer-term trend in bond markets being at serious risk of reversing.
  • It’s impossible to know when Europe will turn a corner, and even then it’s only the sort of thing we’ll be able to observe in hindsight. That means every head-fake toward higher rates runs the risk of developing into a longer term rise, even if those risks vary greatly in terms of probability. Clients with longer term time horizons and who otherwise don’t mind losing some ground in exchange for the chance at locking even lower rates are the only ones who should float. Clients who must close by a certain date or who can’t afford to lose any ground on rates should generally be locking even though the longer term trend has been in their favor for over a year now.
  • As always, please keep in mind that the rates discussed generally refer to what we’ve termedbest-execution(that is, the most frequently quoted, conforming, 30yr fixed rate for top tier borrowers, based not only on the outright price, but also ‘bang-for-the-buck.’ Generally speaking, our best-execution rate tends to connote no origination or discount points–though this can vary–and tends to predict Freddie Mac’s weekly survey with high accuracy. It’s safe to assume that our best-ex rate is the more timely and accurate of the two due to Freddie’s once-a-week polling method).

30 Year Fixed Rate Mortgage
30?w=360
15 Year Fixed Rate Mortgage
30?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 3.55% -0.06
15 Yr FRM 2.95% -0.04
FHA 30 Year Fixed 3.25% +0.00
Jumbo 30 Year Fixed 3.58% -0.03
5/1 Yr ARM 3.13% -0.11

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.47% 1.11 +0.02
30 Yr. Fixed 4.33% 1.33 -0.01
MBA ** hdr_arrow.png
30 Yr. Fixed 3.80% 0.29 -0.09
15 Yr. Fixed 3.10% 0.29 -0.06
30 Yr. Jumbo 3.86% 0.23 -0.02
30 Yr. FHA 3.66% 0.15 -0.05
5/1 ARM 2.87% 0.41 -0.07
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 3.66% 0.60 +0.03
15 Yr. Fixed 2.98% 0.50 +0.05
1 Yr. ARM 2.38% 0.40 +0.01
5/1 Yr. ARM 2.86% 0.40 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 103.47 +0.45
30YR FNMA 3.5 105.70 +0.30
30YR GNMA 3.0 103.77 +0.36
30YR GNMA 3.5 105.84 +0.25
15YR FNMA 3.0 105.14 +0.19
15YR FNMA 2.5 103.45 +0.30
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 0.4567% -0.0630
5 YR 1.1596% -0.1151
10 YR 1.6458% -0.1139
30 YR 2.2274% -0.0987
Prices as of: 1/30/2015 4:30PM 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.
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Rules Set for Disbursement of Affordable Housing Funds

Rules Set for Disbursement of Affordable Housing Funds

Posted to: MND NewsWire
Friday, January 30, 2015 11:50 AM

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When Federal Housing Finance Agency Director Melvin L. Watts testified before the House Financial Services Committee early this week he said that FHFA had notified Fannie Mae and Freddie Mac that it was reversing suspension of contributions to affordable housing funds which the GSEs were required to make prior to being placed in conservatorship. The suspension was authorized by the Housing and Economic Recovery Act (HERA) in 2008.

On Friday the Department of Housing and Urban Development (HUD) clarified how those funds would be used with publication in the Federal Register of an interim program rule for the National Housing Trust Fund (HTF). HTF is a new production program designed to work with other existing programs to increase and preserve the supply of decent, clean and safe affordable housing for extremely low- and very low-income households, including homeless families. The rule provides guidance to states and state-designated entities which are eligible grantees of HTF on the program’s implementation.

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CFPB Expands Rural & Small Creditor Definitions

CFPB Expands Rural & Small Creditor Definitions

Posted to: MND NewsWire
Thursday, January 29, 2015 4:31 PM

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As it said it would, the Consumer Financial Protection Bureau (CFPB) has taken steps to assist small lenders, particularly those in rural areas, comply more easily with the new mortgage rules that took effect at the beginning of last year. Changes were proposed on Thursday to the ability-to-repay rule and its category of loans called Qualified Mortgages (QM) which CFPB said would, if enacted, increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas and help small creditors adjust their business practices to comply with the new rules.

Ability-to-repay requires that lenders generally make a reasonable and good faith determination that a borrower is able to pay back a loan. Loans that qualify as QMs are presumed to comply with ability-to-repay requirements because of that category’s laundry list of prohibited risky loan features.

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