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Mortgage News Daily

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Mortgage Rates End Week At Best Levels; Pending Home Sales; Mortgage Defaults Rise
Posted to: Daily Newsletter
Friday, December 28, 2012 4:30 PM

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Dec 28, 2012 2:55PM

Mortgage Rates End Week At Best Levels, But Risks Persist

Mortgage rates continued a moderate trend of improvement from mid-week, bringing rates to their best levels of the week on Friday. All of the recent day-over-day changes in rates have taken place on quite a small scale historically as broader markets stay exceptionally contained ahead of the Fiscal Cliff deadline. Conventional 30yr Fixed Best-Execution rates are still widely viable at 3.375%, but 3 days of minor improvements brings 3.25% increasingly back into view. ( Read More:What is A Best-Execution...

Dec 28, 2012 10:35AM

Consumer Loan Defaults Hit New Lows while Mortgage Defaults Rise

Default rates for first mortgage loans increased in both October and November according to the S&P Dow Jones Indices and Experian. The increases drove the national default rate up from a post recession low reached in September despite continued improvements in the performance of second mortgage, credit card, and auto loans. The national composite index increased from 1.46 percent in September to 1.55 percent in October and 1.64 percent in November. First mortgages had also hit a post-recession...

Micro News

3:49 PM:

Obama Meeting Headlines Give Bonds A Boost

1:28 PM:

Back To Lows After More Cliff Headlines.

11:22 AM:

That Was Quick... Bond Markets Find Support After Cliff News

10:50 AM:

MBS Shed A Quick 4 Ticks On Cliff Headlines

10:08 AM:

ECON: Pending Home Sales +1.7 vs +1.0 Forecast

9:59 AM:

ECON: Chicago PMI Shows Stronger New Orders, Weaker Employment

9:41 AM:

Bond Markets Steady Near Yesterday's Best Levels

3:46 PM:

Negative Reprice Risk Picking Up As Flight-to-Safety Reverses

Around the Web

Video News

Throwing America Off the Cliff?

Santelli Takes a Closer Look at Foreclosures

Brown on Banking Industry, Bank of America Outlook

Today's Comments

Ted Rood

"Gosh, MIke, sorry you are so offended. Not sure why you would think there's a limited pool of folks eligible to refi with HARP, FHA and VA streams..."

Ted Rood

"From what I've seen, pricing on loans I looked at improved today. Not taking that for granted as any perceived progress on fiscal cliff has the ability..."

Mike James

"Hi Ted I am also a senior mortgage banker and your comments about principle reduction is completely baseless and idiotic. The only reason that you and..."

Today's Q&A

"3 unit jumbo non owner purchase, $900,000 on the loan, 70 LTV,Strong borrower. Who will consider? "

"Can an employer deduct credit report and other costs from an lo's paycheck?"

"What does the loan cover and is there monies left over that I can use for my home?"

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.64%
  • |
  • 15 Yr FRM 2.93%
  • |
  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (-0-02)
  • |
  • 30YR FNMA 5.0 110-20 (0-01)
  • |
  • 30YR FNMA 5.5 111-28 (0-00)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%