Weekly Newsletter: Pending Sales Near 11-Year High; Best Price Gains in 31 Months; Refi Share at 2008 Levels; Time for FHA to Ease Up

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30 Year Fixed
4.19% -0.02
15 Year Fixed
3.40% -0.02
10YR Treasury
2.39% -0.0323
FNMA 30YR 3.5
102.33 +0.22
FNMA 15YR 2.5
102.53 +0.13
View Today’s Rates
Friday March 31, 2017
MND NewsWire – 3/28
Case-Shiller Telling Different Story: Best Price Gains in 31 Months
The S&P CoreLogic Case-Shiller U.S. National Home Price Index for January ran counter to other major prices indices in that it continued to show home price gains accelerating into …
MND NewsWire – 3/29
Refinance Share Back to 2008 Levels
Mortgage applications saw a third straight decline in volume during the week ended March 24. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that …
MND NewsWire – 3/29
Time for FHA to Ease Credit – and Lender Angst
Back in December the Urban Institute (UI) put a number on the much maligned but somewhat amorphous term “tight credit.” It maintained that, between 2009 and 2014, lenders failed to …
MND NewsWire – 3/29
Second Best Month in 11 Years for Pending Home Sales
Pending home sales in February surprised everyone with an unexpected jump of 5.5 percent . The National Association of Realtors® said its Pending Home Sales Index, which is a leading …

Latest Video


Real estate mogul: Don’t spend on renovations before doing this

Rolling back Dodd-Frank

Sluggish housing recovery takes a bite out of the economy

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 4.19% -0.02
15 Yr FRM 3.40% -0.02
FHA 30 Year Fixed 3.85% +0.00
Jumbo 30 Year Fixed 4.43% -0.01
5/1 Yr ARM 3.10% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.06% 1.30 +0.03
30 Yr. Fixed 3.76% 1.38 +0.03
MBA ** hdr_arrow.png
30 Yr. Fixed 4.41% 0.38 +0.13
15 Yr. Fixed 3.64% 0.34 +0.12
30 Yr. Jumbo 4.36% 0.26 +0.07
30 Yr. FHA 4.15% 0.29 +0.13
5/1 ARM 3.45% 0.26 +0.17
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 4.14% 0.50 -0.09
15 Yr. Fixed 3.39% 0.40 -0.05
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.18% 0.40 -0.06

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 99.20 +0.27
30YR FNMA 3.5 102.33 +0.22
30YR GNMA 3.0 100.91 +0.23
30YR GNMA 3.5 103.58 +0.20
15YR FNMA 3.0 102.53 +0.13
15YR FNMA 2.5 100.05 +0.16
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 1.2619% -0.0238
5 YR 1.9245% -0.0412
10 YR 2.3892% -0.0323
30 YR 3.0118% -0.0225
Prices as of: 3/31/2017 5:06PM 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.
© 2017 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. – 19706 One Norman Blvd – Cornelius, NC 28031
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Daily Newsletter: Freddie and Fannie Will Pay Up; Rates and Bonds Little-Changed in Q1

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30 Year Fixed
4.19% -0.02
15 Year Fixed
3.40% -0.02
10YR Treasury
2.39% -0.0323
FNMA 30YR 3.5
102.33 +0.22
FNMA 15YR 2.5
102.53 +0.13
View Today’s Rates
Friday March 31, 2017
MND NewsWire – 11:39AM
Freddie and Fannie Will Pay Up
After gathering little attention for nearly a decade, the two GSEs, Fannie Mae and Freddie Mac are making news on several fronts. Two developments in the last few days are worth noting …
Mortgage Rate Watch – 4:59PM
Mortgage Rates End Week Little-Changed
Mortgage rate were unchanged to slightly lower today. Once again, the actual change you see will depend heavily on the lender in question. Most are fairly close to yesterday’s latest …
MBS Commentary – 4:56PM
MBS RECAP: Bonds Almost Perfectly Unchanged in Q1
Month/Quarter-end bond buying was nowhere to be seen until today. It can provide a mild but determined positive trend in bond markets that transcends economic data. Case in point, Core …
Pipeline Press – 9:47AM
PHH to Lose CEO; Fannie/Freddie Changes–Their Future Remains Uncertain
Let’s end the week with a non-mortgage question, but one that you mathaletes will enjoy. What would happen if you were hit by a penny falling from a skyscraper ? Fannie Mae and …

Latest Video


Real Estate moguls share a common mistake to avoid when flipping a home

Personal income up 0.4% in February

Fed’s Dudley: After last hike, rates ‘still unusually low’

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 4.19% -0.02
15 Yr FRM 3.40% -0.02
FHA 30 Year Fixed 3.85% +0.00
Jumbo 30 Year Fixed 4.43% -0.01
5/1 Yr ARM 3.10% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.06% 1.30 +0.03
30 Yr. Fixed 3.76% 1.38 +0.03
MBA ** hdr_arrow.png
30 Yr. Fixed 4.41% 0.38 +0.13
15 Yr. Fixed 3.64% 0.34 +0.12
30 Yr. Jumbo 4.36% 0.26 +0.07
30 Yr. FHA 4.15% 0.29 +0.13
5/1 ARM 3.45% 0.26 +0.17
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 4.14% 0.50 -0.09
15 Yr. Fixed 3.39% 0.40 -0.05
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.18% 0.40 -0.06

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 99.20 +0.27
30YR FNMA 3.5 102.33 +0.22
30YR GNMA 3.0 100.91 +0.23
30YR GNMA 3.5 103.58 +0.20
15YR FNMA 3.0 102.53 +0.13
15YR FNMA 2.5 100.05 +0.16
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 1.2619% -0.0238
5 YR 1.9245% -0.0412
10 YR 2.3892% -0.0323
30 YR 3.0118% -0.0225
Prices as of: 3/31/2017 5:06PM 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.
© 2017 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 End Week Little-Changed

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dailyrateheader.png
30 Year Fixed
4.19% -0.02
15 Year Fixed
3.40% -0.02
10YR Treasury
2.39% -0.0323
FNMA 30YR 3.5
102.33 +0.22
FNMA 15YR 2.5
102.53 +0.13
View Today’s Rates
Mortgage Rates End Week Little-Changed
March 31, 2017
Mortgage rate were unchanged to slightly lower today. Once again, the actual change you see will depend heavily on the lender in question. Most are fairly close to yesterday’s latest levels but a few are noticeably better or worse. In general, those who deviated from “unchanged” today, did so in a friendly direction. This was made possible by steady improvements in bond markets throughout the day, resulting in several lenders updating rate sheets in the middle of the day.

All that having been said, no matter the direction of the movement, it’s all been very small this week. Few, if any lenders are actually offering different NOTE rates compared to any other day this week. When we talk about “rates” moving, it’s only in reference to EFFECTIVE rates (which take upfront costs into account).

4.25% remains the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios.

Next week brings several big-ticket economic reports, including the important jobs report on Friday. In addition, the Fed will release the Minutes from its most recent meeting. This release will be the first time the Fed publishes its forecasts in a new “fan chart” format. It was the Fed forecasts that helped rates move quickly lower in the middle of March, so if the Fan charts (or any other potential revelation in the Fed Minutes) add a significant amount of information for investors to consider, rates could react quickly.

Loan Originator Perspective

I commented yesterday that treasury yields were near our recent range’s (2.38-2.42%) low, and as if on cue, they rose today to 2.42%. Mortgage pricing worsened slightly, although few lenders repriced during the day. We’re still near the 30 day low for rates, so there’s no shame in locking at these levels. I’d rather pick up a fallen knife than have a falling one pierce my hand. –Ted Rood, Senior Originator

I continue to favor locking once within 30 days of closing. Bonds just do not see a reason to break below our current floor in the mid 2.3s on the 10 year treasury note. Consumers continue to have more to risk than to gain by floating. –Victor Burek, Churchill Mortgage


Today’s Best-Execution Rates

  • 30YR FIXED – 4.25%
  • FHA/VA – 3.75-4.25%
  • 15 YEAR FIXED – 3.5-3.625%
  • 5 YEAR ARMS – 2.75 – 3.25% depending on the lender


Ongoing Lock/Float Considerations

  • Some investors are increasingly worried/convinced that the decades-long trend toward lower rates has been permanently reversed, but such a conclusion would require YEARS to truly confirm
  • Still, it would take something very big and unexpected for rates to make a big, sustained push back toward pre-election levels. Even then, it would take time to confirm such a shift.
  • With fiscal and monetary policy paths both clearly putting pressure on rates, at least one of those would need to make a noticeable change before anything but a cautious, lock-biased approach makes sense as a baseline strategy. Floating should only be considered as a tactical opportunity to capitalize on temporary corrections.
  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders. The rates generally assume little-to-no origination or discount except as noted when applicable. Rates appearing on this page are “effective rates” that take day-to-day changes in upfront costs into consideration.

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 4.19% -0.02
15 Yr FRM 3.40% -0.02
FHA 30 Year Fixed 3.85% +0.00
Jumbo 30 Year Fixed 4.43% -0.01
5/1 Yr ARM 3.10% -0.01

Average Mortgage Rates

Rate Points Change
FHFA * hdr_arrow.png
15 Yr. Fixed 3.06% 1.30 +0.03
30 Yr. Fixed 3.76% 1.38 +0.03
MBA ** hdr_arrow.png
30 Yr. Fixed 4.41% 0.38 +0.13
15 Yr. Fixed 3.64% 0.34 +0.12
30 Yr. Jumbo 4.36% 0.26 +0.07
30 Yr. FHA 4.15% 0.29 +0.13
5/1 ARM 3.45% 0.26 +0.17
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 4.14% 0.50 -0.09
15 Yr. Fixed 3.39% 0.40 -0.05
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 3.18% 0.40 -0.06

Secondary Markets

MBS hdr_arrow.png
Price Change
30YR FNMA 3.0 99.20 +0.27
30YR FNMA 3.5 102.33 +0.22
30YR GNMA 3.0 100.91 +0.23
30YR GNMA 3.5 103.58 +0.20
15YR FNMA 3.0 102.53 +0.13
15YR FNMA 2.5 100.05 +0.16
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 1.2619% -0.0238
5 YR 1.9245% -0.0412
10 YR 2.3892% -0.0323
30 YR 3.0118% -0.0225
Prices as of: 3/31/2017 5:06PM 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.
© 2017 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: Bonds Almost Perfectly Unchanged in Q1

Before you read it here, it was on MBS Live.
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MBS RECAP: Bonds Almost Perfectly Unchanged in Q1

Posted to: MBS Commentary
Friday, March 31, 2017 4:56 PM

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Month/Quarter-end bond buying was nowhere to be seen until today. It can provide a mild but determined positive trend in bond markets that transcends economic data. Case in point, Core PCE was +1.8 vs a +1.7 forecast today and bonds began losing ground immediately following the data. Less than half an hour later, the weakness abated and both Treasuries and MBS embarked on a slow, steady journey into moderately positive territory.

Before the positivity kicked in, it looked like there was a decent chance that Q1-2017 would end at exactly the same levels as Q4 2016 (just…

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Freddie and Fannie Will Pay Up

Freddie and Fannie Will Pay Up

Posted to: MND NewsWire
Friday, March 31, 2017 11:22 AM

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After gathering little attention for nearly a decade, the two GSEs, Fannie Mae and Freddie Mac are making news on several fronts. Two developments in the last few days are worth noting.

The Federal Housing Finance Agency confirmed on Thursday that the two GSEs will pay their fourth quarter dividends to the Treasury as scheduled. As we reported here earlier this week, there is growing concern about the ultimate result of the net dividend sweep, in which each of the GSEs is required pay Treasury all of the previous quarter’s profits, less a steadily reserving cash reserve. That reserve reaches zero at the end of this year, leaving the GSE’s with no capital with which to manage any downturn in the housing market. Concern about the GSE’s capital reserves sparked a letter to Treasury and FHFA from eight lender and advocacy groups asking FHFA so suspend the upcoming dividend.

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PHH to Lose CEO; Fannie/Freddie Changes–Their Future Remains Uncertain

PHH to Lose CEO; Fannie/Freddie Changes–Their Future Remains Uncertain

Posted to: Pipeline Press
Friday, March 31, 2017 8:21 AM

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Let’s end the week with a non-mortgage question, but one that you mathaletes will enjoy. What would happen if you were hit by a penny falling from a skyscraper? Fannie Mae and Freddie Mac will transfer one trillion pennies ($10 billion) in earnings to the U.S. Treasury today. There continues to be a lot of chattering about the future of the Agencies – more below.

In lender & personnel news, from PHH Corporation came news that CEO Glen Messina is stepping down from his roles as both CEO and President of the Board at the June annual meeting. The current CFO Rob Crowl has been named the next CEO and President. Analysts were quick to point out that this could be a sign that a sale is more likely and/or the company is at least listening to their activist investors. Other management changes were also announced alongside, including an internal promotion to replace the CFO position. The resignation was noted not to be due to any internal disagreement or concern with the company’s accounting, operations, policies, or practices.

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MBS Day Ahead: Technical Levels Under Attack Regardless of Data

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MBS Day Ahead: Technical Levels Under Attack Regardless of Data

Posted to: MBS Commentary
Friday, March 31, 2017 9:07 AM

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While there are several economic reports that have market-moving power today, the bigger issue for bond markets may be the technical battle that’s been fought at 10yr yields of 2.42% all week. This has been a very central pivot point for the 2017 range, and yields have broken or bounced there on 8 of the last 9 days.

Sidenote: the word “broken” in the previous sentence does indeed refer to yields moving above 2.42%. Why, then, are we talking about it as a ceiling still? Because when it comes to technical analysis of “breakouts,” the break of the line itself is…

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