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Mortgage Rates at 2013 Lows; HARP Petition; Eminent Domain Back Again
Posted to: Daily Newsletter
Monday, January 14, 2013 5:32 PM

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Jan 14, 2013 2:56PM

Mortgage Rates Return To 2013 Lows

Mortgage rates improved moderately to begin the week, bringing most lenders back to levels not seen since January 2nd or before. Following the Fiscal Cliff "mini-deal," FOMC Minutes, and Employment Report two weeks ago, rates rose at to their highest levels since before the Fed announced it's most recent buying program for MBS (the "mortgage-backed securities" that most directly influence rates) in mid September. The Best-Execution rate for Conventional 30yr Fixed loans is back down to 3.375% for...

Jan 14, 2013 2:21PM

Another City Looks at Eminent Domain as Solution to Foreclosures

Another city hard hit by the housing crisis has proposed exercising its power of eminent domain on behalf of its underwater homeowners. The City Council of Brockton, Massachusetts voted this week to commission a study into the feasibility of such a move, joining several municipalities in California and the City of Chicago which have already taken a look at such an undertaking. Brockton, an old industrial city located south of Boston, has seen the median price of its housing drop from $260,000 to...


Micro News

3:18 PM:

Negative Reprice Reported, Despite MBS Holding Steady

1:01 PM:

MBS Hit Lows, But Holding Sideways In Quiet Trading.

12:14 PM:

Fed's Williams sees need for QE3 "well into" second half of 2013

10:01 AM:

Calmly Holding Overnight Gains As Resistance Sets In

2:16 PM:

Treasury Rally Continues. MBS Catching Some Benefit

1:03 PM:

MBS Turn Green As Bond Market Hold Ground

10:01 AM:

Another Friday, Another Nauseating Sell-Off In The Morning

8:50 AM:

ECON: Import/Export Prices Roughly In Line With Expectations

Around the Web

Video News

Santelli's Midday Bond Report

Santelli's Take on Moral High Ground

Timothy Geithner's Next Move


Today's Comments

Rene Torres

"The HVCC expired November 2010. Lenders and Banks do not have to use AMCs. Added appraisal requirements are placed there by regulatory agencies. The appraisers..."

memailbox

"Matt, "The" best explanation for the candlestick graph I have seen, and, great commentary as usual. The pundits say the economy is back. All..."

Bryan/Mortgage Finance Group, Inc.

"What an absolute travesty; when you let the govt. infiltrate and run an entire industry (health, mortgage, etc.) you lose a little (or a lot) of your freedom..."

Today's Q&A

"Is there any recourse if your lock rate expire."

"BOA lost my mortgage and is threating not to send IRS 1098 unless I re-sign original Docs. Legal? "

"Still in the middle of a mess with Wells Fargo and America Servicing Co."


View Newsletter: http://www.mortgagenewsdaily.com/channels/newsletter/291304.aspx

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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.10%
  • |
  • 15 Yr FRM 3.26%
  • |
  • Jumbo 30 Year Fixed 3.98%
MBS Prices:
  • 30YR FNMA 4.5 107-31 (0-01)
  • |
  • 30YR FNMA 5.0 110-02 (-0-05)
  • |
  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
  • Mortgage Apps -2.68%
  • |
  • Refinance Index -3.98%
  • |
  • FHFA Home Price Index 0.67%