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Mortgage Rates Higher Amid Election Jitters; Wells Fargo Investigated
Posted to: Daily Newsletter
Tuesday, November 6, 2012 6:51 PM

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Nov 6, 2012 4:06PM

Mortgage Rates Sharply Higher Amid Election Day Jitters

Mortgage rates began the day only moderately worse off than yesterday's latest offerings, but rose sharply throughout the day . In the late morning and early afternoon, bond market conditions deteriorated rapidly, resulting in most lenders recalling rate sheets to revise rates and fees higher at least once. Several lenders recalled rate sheets twice as markets trading in the secondary mortgage market continued to struggle. At first glance, it's fair to assume that the volatility is related to today...

Nov 6, 2012 6:39PM

Wells Fargo Investigated for Failing to Disclose Securities Risks

Reuters is reporting that the federal government is investigating Wells Fargo & Company for its mortgage-related practices including the originating and packaging of home loans by its Wachovia unit. The information comes from the bank's third quarter securities filing. According to the bank, it may face federal enforcement action related to mortgage-backed securities deals leading up to the financial crisis, specifically whether it properly disclosed the risks associated with the securities in...

Micro News

2:11 PM:

Negative Reprice Risk Ratchets Higher Still As MBS Hit New Lows

11:48 AM:

Stock Surge Keeps Pressure On Bonds. Reprice Risk Increasing

11:23 AM:

MBS Trying To Hold Ground At Morning's Lows, Succeeding For Now

10:21 AM:

ECON: Job Openings, Hiring, And Firing Relatively Unchanged From 2011

9:40 AM:

Bond Markets Holding In Moderately Weaker Territory

3:00 PM:

Some Selling Pressure, MBS Off Highs, Negative Reprice Risk?

10:07 AM:

ECON: ISM Non-Manufacturing Weaker Than Expected, But Employment Improves

9:26 AM:

Bond Markets Open At Strongest Levels In Nearly Three Weeks

Around the Web

Video News

Barnier Says Romney May Not Apply New Bank Rules

Yale's Shiller on Election, Fiscal Policy, Housing

Bair Urges Next President to Boost Capital Burden

Today's Comments

Pete Moraga

"Rob, in California the standard homeowner insurance policy includes coverage for wildfires. The two perils not included in the standard policy are earthquake..."

Jason Harris

"People do actually lose their mind during these elections. We have two guys both father's...husband's....successful and intelligent people. Somehow..."

Frank Ceizyk

"Catherine...take a deep breath and read what I wrote. "I am concerned about media reports indicating your administration is targeting the MID for..."

Today's Q&A

"Loan sold to other carrier who is now requesting H06 policy"

"VA IRRRL - should I do it?"

"my real estate agent will not return my deposit on a home deal that did not go through"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.64%
  • |
  • 15 Yr FRM 2.93%
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  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
  • 30YR FNMA 4.5 108-32 (0-02)
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  • 30YR FNMA 5.0 110-19 (-0-00)
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  • 30YR FNMA 5.5 111-28 (0-02)
Recent Housing Data:
  • Mortgage Apps 10.03%
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  • Refinance Index 11.33%
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  • Purchase Index 8.43%