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Mortgage News Daily

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Mortgage Rates Soar Following Fed Minutes; CFPB Blasted; BofA Back in Lending
Posted to: Daily Newsletter
Thursday, January 3, 2013 5:47 PM

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Jan 3, 2013 5:05PM

Mortgage Rates Soar To Multi-Month Highs Following Fed Minutes

Mortgage rates soared to their highest levels in months today after Minutes from the Fed's most recent policy meeting showed the board to be more divided concerning the continuation of its most recent round of quantitative easing, dubbed QE4. It's not that markets think that The Fed's purchases of MBS (the "mortgage backed securities" that most directly influence mortgage rates) or Treasuries will be stopping any time soon, but however long a particular market participant thought that QE would continue...

Jan 3, 2013 5:08PM

House Committee Chairs Blast CFPB's "Virtually Limitless Power"

Shortly before recessing for the holidays the Chairmen of the House Committee on Oversight and Government Reform and of its Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs issued a report titled The Consumer Financial Protection Bureau's Threat to Credit Access in the United States . The creation of CFPB was a central fixture of the Dodd Frank Wall Street Reform and Consumer Protection Act and has been the target of both the banking and finance communities and...

Micro News

2:12 PM:

Full-On Liquidation Mode. Reprices All But Guaranteed

2:03 PM:

Negative Reprices More Likely as MBS Slide Following FOMC

1:08 PM:

Uncomfortably Trudging Along Lows. Reprice Risk Looming

10:47 AM:

Equities And Europe Applying Some Pressure On Bond Markets

9:20 AM:

MBS Outperform While 10's Bounce At Range Boundary (Again)

8:34 AM:

ECON: Jobless Claims Slightly Lower Than Expected

8:23 AM:

ECON: ADP Employment Data Much Stronger Than Expected

4:16 PM:

Leaking Slightly Lower After Late Day Stock Rally

Around the Web

Video News

End of QE Before End of 2013?

Santelli: Cowboys and Central Bankers

Sen. Shelby: 'We're Committing Financial Suicide'

Today's Comments

Ted Rood

"Locked a 15 year this PM at 2.75%. With rates this good, I'm hesitant to float as the potential for improvement, while there, is less than the potential..."

Jason Harris

"I don't see them requiring bank LO's to pass licensing tests. The biggest banks have way too many personal bankers selling 1st lien portfolio loans..."

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..."

Today's Q&A

"Can LO commissions be returned? "

"I haven't paid my second mortg in over 3yrs. Will it be off credit in 7 yrs?"

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

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.63%
  • |
  • 15 Yr FRM 2.92%
  • |
  • Jumbo 30 Year Fixed 3.60%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (-0-02)
  • |
  • 30YR FNMA 5.0 110-22 (0-03)
  • |
  • 30YR FNMA 5.5 111-26 (-0-02)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%