Daily Newsletter: Mortgage Rates Modestly Lower as Risks Increase; Home Prices Higher -Case-Shiller

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30 Year Fixed
4.12% -0.02
15 Year Fixed
3.28% -0.05
10YR Treasury
2.35% +0.0145
FNMA 30YR 3.5
102.88 0.00
FNMA 15YR 2.5
103.45 -0.05
View Today’s Rates
Tuesday June 30, 2015
Mortgage Rate Watch – 4:10PM
Mortgage Rates Modestly Lower as Risks Increase
Mortgage rates had their 2nd straight day of improvements today–something that’s been uncommon since the beginning of May. Additionally, the slight drop in rates was belied by the …
MND NewsWire – 10:10AM
Consumer Expectations Match Home Price Performance -Case-Shiller
House prices continued to increase in April but the gains lost a bit of momentum compared to the previous month, reversing the acceleration noted by S&P Dow Jones/Case Shiller Indices …
MND NewsWire – 10:47AM
Price Gains Accelerating Again -Black Knight
Home prices rose 1.0 percent in April. Black Knight Financial Services said its Home Price Index for the month was at $248,000 compared to $245,000 in March. The HPI posted a +4.9 percent …
MBS Commentary – 4:10PM
MBS RECAP: Bond Markets Hear Dueling Banjos From Europe and US; Weaker in the PM
European and US headlines did their rendition of ‘dueling banjos’ this afternoon. On the European side, we had potentially fake news out of a country that may only exist in the movies …

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S&P Case Shiller (national) up 4.2% vs. April 2014

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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 4.12% -0.02
15 Yr FRM 3.28% -0.05
FHA 30 Year Fixed 3.75% +0.00
Jumbo 30 Year Fixed 3.92% -0.02
5/1 Yr ARM 3.10% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.26% 1.25 -0.06
30 Yr. Fixed 3.90% 1.28 -0.03
MBA ** hdr_arrow.png
30 Yr. Fixed 4.19% 0.38 -0.03
15 Yr. Fixed 3.38% 0.37 -0.05
30 Yr. Jumbo 4.14% 0.35 -0.04
30 Yr. FHA 3.96% 0.14 -0.04
5/1 ARM 3.04% 0.46 -0.11
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 4.02% 0.70 +0.02
15 Yr. Fixed 3.21% 0.60 -0.02
1 Yr. ARM 2.50% 0.30 -0.03
5/1 Yr. ARM 2.98% 0.40 -0.02

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 99.41 -0.02
30YR FNMA 3.5 102.88 0.00
30YR GNMA 3.0 100.80 0.00
30YR GNMA 3.5 103.58 +0.09
15YR FNMA 3.0 103.45 -0.05
15YR FNMA 2.5 101.05 -0.02
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 0.6447% +0.0079
5 YR 1.6413% +0.0114
10 YR 2.3495% +0.0145
30 YR 3.1195% +0.0164
Prices as of: 6/30/2015 4:30PM 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 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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Daily Rate Update: Mortgage Rates Modestly Lower as Risks Increase

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dailyrateheader.png
30 Year Fixed
4.12% -0.02
15 Year Fixed
3.28% -0.05
10YR Treasury
2.35% +0.0145
FNMA 30YR 3.5
102.88 0.00
FNMA 15YR 2.5
103.45 -0.05
View Today’s Rates
Mortgage Rates Modestly Lower as Risks Increase
June 30, 2015
Mortgage rateshad their 2nd straight day of improvements today–something that’s been uncommon since the beginning of May. Additionally, the slight drop in rates was belied by the market movement. The bond markets that inform lenders rate sheets actually pointed to higher rates by the end of the day. That means the improvements were more to do with the overhang from yesterday’s strength. In other words, yesterday’s underlying market conditions where so strong, and so abrupt, that lenders couldn’t fully price them into rate sheets. That left some additional room to lower rates today despite the counter-arguments being made in bond markets.

The most prevalently-quoted conventional 30yr fixed rate for top tier scenarios remains at 4.125%. A few lenders are on either side of that by an eighth of a point, but they’re in the minority.

The next 2 days are critical, relatively speaking. Reason being: Monday set us up for a chance at breaking toward lower rates if momentum can be maintained. At first, it looked like rates might react more to the situation in Greece than they actually did. As I’ve continued to caution, Greece is only one medium-sized brush-stroke in a much larger painting. The bigger, more colorful strokes will come from things like the employment data on Thursday (a day early due to the Independence Day holiday). If the numbers are stronger than expected, this recent foray toward lower rates may take an abrupt turn. Either way, we still haven’t seen an aggressive enough push lower to rule out the long term trend toward higher rates.


Loan Originator Perspective

“Well, bonds hit a brick wall today, and we failed to break 2.30 on treasuries despite continued Greek Drama. While the last few days’ gains have been nice, this rally may be tiring rapidly. Today represents a great opportunity for floating borrowers to lock, those who don’t are really rolling the dice. I’d advise all borrowers closing within 30 days (and most of those who aren’t!) to lock while the getting is good.” -Ted Rood, Senior Originator

“I am continuing with my same advice and advising to lock at application. The outlook on the US economy and rate hikes has not changed despite the issues in the Eurozone. Way to risky to float this market.” –Victor Burek, Open Mortgage


Today’s Best-Execution Rates

  • 30YR FIXED – 4.125%
  • FHA/VA – 3.75-4.0
  • 15 YEAR FIXED – 3.375%
  • 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 was Europe and the introduction of European quantitative easing.
  • It’s a highly uncertain time for global financial markets. There is much debate over whether or not the global economy is turning a corner, thus justifying a widespread move to higher rates. That’s made 2015 significantly more volatile than 2014 for markets. This means lender rate sheets may change appreciably from day to day, and sometimes even several times in the same day.
  • Bottom line: European Quantitative Easing helped push global rates to all-time lows in April. Now, the big risk for mortgage rate watchers is that we might have turned a long term corner. That risk is being compounded by speculation about the Federal Reserve raising rates by the end of 2015.
  • May and June have amounted to the 2nd major move higher bounce so far this year. Every time this happens, we have to consider the possibility that this will be a big-picture, long-lasting correction. Until such a thing can be ruled out, Locking makes far more sense.
  • 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, conventional 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 4.12% -0.02
15 Yr FRM 3.28% -0.05
FHA 30 Year Fixed 3.75% +0.00
Jumbo 30 Year Fixed 3.92% -0.02
5/1 Yr ARM 3.10% -0.02

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.26% 1.25 -0.06
30 Yr. Fixed 3.90% 1.28 -0.03
MBA ** hdr_arrow.png
30 Yr. Fixed 4.19% 0.38 -0.03
15 Yr. Fixed 3.38% 0.37 -0.05
30 Yr. Jumbo 4.14% 0.35 -0.04
30 Yr. FHA 3.96% 0.14 -0.04
5/1 ARM 3.04% 0.46 -0.11
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 4.02% 0.70 +0.02
15 Yr. Fixed 3.21% 0.60 -0.02
1 Yr. ARM 2.50% 0.30 -0.03
5/1 Yr. ARM 2.98% 0.40 -0.02

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 99.41 -0.02
30YR FNMA 3.5 102.88 0.00
30YR GNMA 3.0 100.80 0.00
30YR GNMA 3.5 103.58 +0.09
15YR FNMA 3.0 103.45 -0.05
15YR FNMA 2.5 101.05 -0.02
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 0.6447% +0.0079
5 YR 1.6413% +0.0114
10 YR 2.3495% +0.0145
30 YR 3.1195% +0.0164
Prices as of: 6/30/2015 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.
© 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
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.

MBS RECAP: Bond Markets Hear Dueling Banjos From Europe and US; Weaker in the PM

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MBS RECAP: Bond Markets Hear Dueling Banjos From Europe and US; Weaker in the PM

Posted to: MBS Commentary
Tuesday, June 30, 2015 4:10 PM

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European and US headlines did their rendition of ‘dueling banjos’ this afternoon. On the European side, we had potentially fake news out of a country that may only exist in the movies and history books. The Prime Minister of Malta is cited as saying Greece could cancel the referendum if they can make a deal with creditors. Why we’re hearing this from the Maltese PM is anyone’s guess.

On the US side, Fed Vice Chair Fischer (the respected one, not the crazy ex-Dallas Fed pres. who says “feral hogs” and “monetary cocaine”) said that we’re basically at full employment and…

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MBS MID-DAY: Infinitely Calmer Day; Bond Markets Holding Range

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MBS MID-DAY: Infinitely Calmer Day; Bond Markets Holding Range

Posted to: MBS Commentary
Tuesday, June 30, 2015 11:48 AM

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Although MBS are just barely into positive territory and Treasuries are just now getting back to unchanged levels after morning weakness, today is about as positive as it can be. Reason being, simply holding near unchanged levels means bonds are attempting to confirm yesterday’s sharp improvements. Either that or it’s the last day of the month and there’s additional demand for bonds as a result.

Even then, it’s not too difficult to accept the past 2 days as an ‘in trend correction.’ There were all the following reasons:

– recent run to weakest levels of the year


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Originator Census Survey; Another Lender Purchased; It’s All About Greece?

Originator Census Survey; Another Lender Purchased; It’s All About Greece?

Posted to: Pipeline Press
Tuesday, June 30, 2015 8:10 AM

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“One.” That is the extra second that June 30th has today to correct clocks for the earth’s rotation. “330,820.” That is the number of times America’s net worth could travel around the earth if dollar bills were place end to end. How much money is that? American’s net worth is now $84.9 trillion. We could travel to the sun and back 42 times on the backs of a first quarter climb in stocks and home prices. This is an increase from $83.3 trillion in the final months of last year with stock portfolios rising $487 billion and home values increasing by $503 billion. These rising home prices are helping to rebuild Americans’ ownership of their homes. Home equity was equal to 55.6 percent of the value of U.S. housing in the first quarter, the highest ratio in more than eight years (36.9% during the recession in 2009). Greater household wealth can lift spending and economic growth. “When consumers feel richer, they are more likely to spend from their wealth, rather than just from income.” Like a trip to Greece.

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Price Gains Accelerating Again -Black Knight

Price Gains Accelerating Again -Black Knight

Posted to: MND NewsWire
Monday, June 29, 2015 1:12 PM

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Home prices rose 1.0 percent in April. Black Knight Financial Services said its Home Price Index for the month was at $248,000 compared to $245,000 in March. The HPI posted a +4.9 percent change from April 2014 when it stood at $236,000.

Nationally the HPI is now within 7.6 percent of the peak value it reached in July 2006 of 268,000. Several states have already established new high-water marks for prices including Colorado and Texas which have done so nearly monthly for over a year. In April both New York and Tennessee also set new price peaks. Among the largest metropolitan areas Austin, Dallas, Houston, and San Antonio all hit new peaks along with Columbus, Ohio, Denver, Honolulu, Nashville, San Francisco and San Jose. Both Boston and Portland, Oregon are now less than 0.75 percent away from doing so as well.

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Consumer Expectations Match Home Price Performance -Case-Shiller

Consumer Expectations Match Home Price Performance -Case-Shiller

Posted to: MND NewsWire
Tuesday, June 30, 2015 10:00 AM

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House prices continued to increase in April but the gains lost a bit of momentum compared to the previous month, reversing the acceleration noted by S&P Dow Jones/Case Shiller Indices last month. The company’s National index and both of its multi-city composites posted slightly lower year over year increases in figures released today than in the March report.

The U.S. National Home Price Index which covers all nine census divisions rose 4.2 percent from April 2014 to April 2015. In March the annual gain had been 4.3 percent. On a month-over-month basis the index was up 1.1 percent on a non-seasonally adjusted basis and was unchanged when adjusted.

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