Daily Newsletter: Mortgage Rates Nearly Unchanged in 2015; Seasonal Uptick in Distressed Sales

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30 Year Fixed
4.09% -0.02
15 Year Fixed
3.28% -0.02
10YR Treasury
2.27% -0.0249
FNMA 30YR 3.5
103.19 +0.23
FNMA 15YR 2.5
103.06 +0.19
View Today’s Rates
Thursday December 31, 2015
Mortgage Rate Watch – 2:33PM
Mortgage Rates Nearly Unchanged in 2015
Mortgage rates had an interesting year to say the least. After almost universal consensus on a move toward higher rates the first few months of the year instead saw a precipitous drop …
Pipeline Press – 12:41PM
Bank M&A; Pending Home Sales Primer; Lender Form Changes – Who Can Keep Track?
Given my Resolutions from a year ago, and looking back at 2015, I’ve got today to get skinny, save money, learn French, and undrink 987 bottles of wine. On a more serious note, plenty …
MBS Commentary – 8:51AM
MBS Day Ahead: Early Close and Relative Lack of Data. Excited Yet?
Today is a very exciting day for bond market participants. Most of them are on vacation, or at the very least, in a vacation-like state of mind. The latter refers to the magical phenomenon …
MND NewsWire – 1:46AM
October sees Seasonal Uptick in Distressed Home Sales Share
Sales of distressed properties made up 10.2 percent of total home sales in October CoreLogic said on Tuesday. The October number represented a slight seasonal increase of 0.2 percent …

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Chicago PMI 42.9

Santelli: 5-year making new highs

Ed Keon: What’s driving rates lower…

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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 4.09% -0.02
15 Yr FRM 3.28% -0.02
FHA 30 Year Fixed 3.75% +0.00
Jumbo 30 Year Fixed 3.92% -0.01
5/1 Yr ARM 3.03% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.20 -0.01
30 Yr. Fixed 4.12% 1.43 -0.05
MBA ** hdr_arrow.png
30 Yr. Fixed 4.14% 0.45 +0.00
15 Yr. Fixed 3.39% 0.35 +0.00
30 Yr. Jumbo 4.01% 0.30 -0.01
30 Yr. FHA 3.90% 0.31 -0.01
5/1 ARM 3.25% 0.36 +0.02
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 3.96% 0.60 -0.01
15 Yr. Fixed 3.22% 0.60 +0.00
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.06% 0.40 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.00 +0.23
30YR FNMA 3.5 103.19 +0.23
30YR GNMA 3.0 101.31 +0.23
30YR GNMA 3.5 104.09 +0.22
15YR FNMA 3.0 103.06 +0.19
15YR FNMA 2.5 100.81 +0.17
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 1.0517% -0.0275
5 YR 1.7582% -0.0361
10 YR 2.2694% -0.0249
30 YR 3.0150% -0.0184
Prices as of: 12/31/2015 2:06PM 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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MBS RECAP: How’d We Get Here and Where Are We Going?

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MBS RECAP: How’d We Get Here and Where Are We Going?

Posted to: MBS Commentary
Thursday, December 31, 2015 3:53 PM

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Pre-announced bond buying programs are really quite something. They have all ended up being well-telegraphed enough to allow investors to do their own bond buying well before the program starts, driving rates lower preemptively. This was the case throughout 2014 and even more so at the beginning of 2015 (when it became abundantly clear that Europe was set for QE.

Once Europe finally started buying bonds, there was no more front-running left to be done, and rates paradoxically moved swiftly higher.

To paraphrase all that: The European Central Bank (ECB) said it was going to buy…

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Daily Rate Update: Mortgage Rates Nearly Unchanged in 2015

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dailyrateheader.png
30 Year Fixed
4.09% -0.02
15 Year Fixed
3.28% -0.02
10YR Treasury
2.27% -0.0249
FNMA 30YR 3.5
103.19 +0.23
FNMA 15YR 2.5
103.06 +0.19
View Today’s Rates
Mortgage Rates Nearly Unchanged in 2015
December 31, 2015
Mortgage rates had an interesting year to say the least. After almost universal consensus on a move toward higher rates the first few months of the year instead saw a precipitous drop to long-term lows. Chalk that up to the inception of Europe’s bond buying program (and most of 2014’s improvements for that matter).

Later in the year, rates saw bigger moves higher and lower as expectations ebbed and flowed regarding the Fed rate hike. Rates like those pertaining to mortgages and longer-term US Treasuries can move more nimbly based on those expectations. The higher the likelihood of a Fed hike, the higher mortgage rates moved in anticipation. That phenomenon ultimately allowed mortgage rates to hold their ground at relatively unchanged levels after the Fed finally pulled the trigger.

On average 2015’s mortgage rates were much lower than 2014’s, but unlike 2014, they were also generally moving higher. We end the year with the average conventional 30yr fixed rate quote between 4.0% and 4.25% compared to a 3.75%-4.0% range at the end of 2014. For what it’s worth, 2014 ended at the lowest rates of the year. 2015 ends with rates near their highest levels of the year. Rates should continue to rise, on average, until the economy shows signs of stagnating. That could take months at best, or years at worst. Thankfully, any sustained move toward higher rates isn’t likely to be as sharp as historical precedent would suggest.


Loan Originator Perspective

“As I’ve said this week, pricing on holiday week’s, particularly just before an extended weekend, is conservative. Lock desks know markets can change due to international drama, etc, and they can’t adjust rates when they’re closed. I’m floating new applications into next week. Happy New Year!” –Ted Rood, Senior Originator

“It appears bonds will end 2015 with a small rally. Of course, lenders will not pass along the improvements today. It is a tough call whether to lock or float. With today being the last day of year, hard to guess what will come on Monday as traders look to start out the trading year. I think if you can tolerate the risk, and afford to be wrong, I would float over the holiday weekend and see what next week brings.” –Victor Burek, Churchill Mortgage


Today’s Best-Execution Rates

  • 30YR FIXED – 4.125-4.25%
  • FHA/VA – 3.75%
  • 15 YEAR FIXED – 3.25-3.375%
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • 2015 has been largely about global interest rates rising unevenly from a long-term low brought about by the onset of quantitative easing in Europe. European rates are most directly affected, but rates in the US have often taken cues for similar movement.
  • As the European rate rally fizzled out, the Fed began telegraphing its intent to hike rates. While the Fed rate doesn’t directly affect mortgages, the two are still loosely connected over time. They become more disconnected when the economy begins to contract. This helps longer term rates like mortgages move lower even while the Fed rate his steady or rising.
  • The Fed finally hiked on December 16th, but there was no immediate reaction in mortgage rates. Some think that an economic contraction might not be too far away. Others are concerned about a lack of inflation (which is good for longer term rates like mortgages). Bottom line: the Fed rate hike has not been the death knell for low mortgage rates that many feared it would be, although the near term range is uncertain and rates could be more volatile than normal as we wait for a new trend to emerge.
  • 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
31?w=360
15 Year Fixed Rate Mortgage
31?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 4.09% -0.02
15 Yr FRM 3.28% -0.02
FHA 30 Year Fixed 3.75% +0.00
Jumbo 30 Year Fixed 3.92% -0.01
5/1 Yr ARM 3.03% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.45% 1.20 -0.01
30 Yr. Fixed 4.12% 1.43 -0.05
MBA ** hdr_arrow.png
30 Yr. Fixed 4.14% 0.45 +0.00
15 Yr. Fixed 3.39% 0.35 +0.00
30 Yr. Jumbo 4.01% 0.30 -0.01
30 Yr. FHA 3.90% 0.31 -0.01
5/1 ARM 3.25% 0.36 +0.02
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 3.96% 0.60 -0.01
15 Yr. Fixed 3.22% 0.60 +0.00
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.06% 0.40 +0.03

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 100.00 +0.23
30YR FNMA 3.5 103.19 +0.23
30YR GNMA 3.0 101.31 +0.23
30YR GNMA 3.5 104.09 +0.22
15YR FNMA 3.0 103.06 +0.19
15YR FNMA 2.5 100.81 +0.17
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 1.0517% -0.0275
5 YR 1.7582% -0.0361
10 YR 2.2694% -0.0249
30 YR 3.0150% -0.0184
Prices as of: 12/31/2015 2:06PM 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.

Bank M&A; Pending Home Sales Primer; Lender Form Changes – Who Can Keep Track?

Bank M&A; Pending Home Sales Primer; Lender Form Changes – Who Can Keep Track?

Posted to: Pipeline Press
Thursday, December 31, 2015 8:34 AM

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Given my Resolutions from a year ago, and looking back at 2015, I’ve got today to get skinny, save money, learn French, and undrink 987 bottles of wine.

On a more serious note, plenty of people in the mortgage business are doing things towards lessening poverty and helping children. The U.S. Census Bureau has released findings from its Small Area Income and Poverty Estimates program which determines the number of people in poverty, the number of children younger than 5 in poverty, the number of children between 5 and 17 in families in poverty, and median household income. According to 2014 data, the median household income at the county level was between $21,658 and $125,635, with a median county level value of $45,229. Among the 3,140 counties that were assessed, 26 percent (820 counties) had a significant increase in poverty between 2007 and 2014, whereas 1 percent of counties had a significant decline. This data will be used to calculate 2016 fiscal year allocations for Title I and other education programs.

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MBS Day Ahead: Early Close and Relative Lack of Data. Excited Yet?

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MBS Day Ahead: Early Close and Relative Lack of Data. Excited Yet?

Posted to: MBS Commentary
Thursday, December 31, 2015 8:51 AM

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Today is a very exciting day for bond market participants. Most of them are on vacation, or at the very least, in a vacation-like state of mind. The latter refers to the magical phenomenon whereby millions of employees are forced to work for whatever reason, but instead end up showing up in body only. Simply put, people may be working, but for most of them, it’s only to go through the motions until they can leave.

Any interesting developments today in terms of bond market movement are purely an illusion. Such movements would be whatever is left over after trading …

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Search Alert: 13 Homes in CO

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