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Mortgage Rates Signifcantly Lower; G-fee Impact on Mortgage Pricing
Posted to: Daily Newsletter
Monday, October 29, 2012 5:43 PM

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Oct 29, 2012 1:02PM

Mortgage Rates Signifcantly Lower As Markets Close Early

Mortgage rates continued falling this morning despite stronger-than-expected economic data. The trading session was punctuated by an early closure for bond markets owing to Hurricane Sandy and will be completely closed tomorrow. The secondary mortgage market began the day in stronger territory after European and Asian hours combined to gradually bring yields lower overnight. Things didn't move much during the shortened domestic hours and the mortgage-backed-securities (MBS) that most directly influence...

Oct 29, 2012 10:33AM

Gfees Impact Mortgage Pricing; Fannie and Freddie Profits; Early Close for Bond Markets Due to Hurricane Sandy

Although the credit markets are open until noon EST, and thus rates are moving, the Fannie Trading Desk spread the word to clients, " Due to Hurricane Sandy, the Capital Markets Sales Desk will be closed for MBS trading on Monday, October 29th . We will provide liquidity through our whole loan platforms, eCommitting and eCommitONE, until 12:00 PM EST. Fannie Mae's DC, VA, MD and PA offices will be operating with minimal staffing during the storm. We will continue to monitor conditions to determine...


Micro News

11:37 AM:

NY Fed Cancels MBS/Treasury Operations For Tuesday

9:08 AM:

Bond Markets In Better Territory To Begin Shortened Session

8:41 AM:

ECON: Incomes As Expected While Spending Beats Consensus

10:00 PM:

SIFMA Early Market Close Recommendations for Hurricane Sandy in the US Markets

2:26 PM:

Sustained MBS Rally, On A Friday No Less!

10:09 AM:

ECON: Consumer Sentiment Roughly In Line With Expectations

9:32 AM:

Strong Overnight Session But Slightly Weaker Following GDP

8:44 AM:

ECON: GDP Rises 2.0 Percent Vs 1.7 Percent Expectation

Around the Web

Video News

SIFMA CEO on Bond Market Interruption

Let Housing Lead the Recovery: RE/MAX Chairman

Paul Miller on Bank of America Fraud Lawsuit


Today's Comments

Bette Miller

"Frank: Great article! I attend about 90% of my closings and title agents and realtors are always surprised when the mortgage broker shows up! You have..."

Lewis Poretz

"Spot on Frank! More and more I see originators 'coming out' and letting American consumers know just how they feel. It was once an honor to originate..."

Professional Mortgage Consultants

"My sentiments as well. I too attend every settlement; I wish I kept a journal! Regarding one point Frank made -- "We have failed to appeal to the..."

Today's Q&A

"Late fee on partial payment of mortgage--forgot increase due to escrow increase"

"Would like to build a log home in Tallahassee, FL"

"problem with POD gift from grandfather"


View Newsletter: http://www.mortgagenewsdaily.com/channels/newsletter/281018.aspx

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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.03%
  • |
  • 15 Yr FRM 3.21%
  • |
  • Jumbo 30 Year Fixed 3.92%
MBS Prices:
  • 30YR FNMA 4.5 108-13 (0-01)
  • |
  • 30YR FNMA 5.0 110-22 (0-02)
  • |
  • 30YR FNMA 5.5 111-17 (-0-01)
Recent Housing Data:
  • Mortgage Apps 11.56%
  • |
  • Refinance Index 23.29%
  • |
  • FHFA Home Price Index 0.67%