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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...

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...

• HARP Petition; HARP and HAMP's Impact on the Market; Has Fannie Been Pushing Lender Approvals?
• December Housing Scorecard Points to Improving Home Equity and Prices
• Wells Fargo Income Sets Record in 2012; Q4 Originations Income Down 10%
• MBS RECAP: Calm, Quiet Day Spent Holding Friday's Gains
• The Week Ahead: Retail Sales, Housing Starts and Fed Speakers Galore
• Industry Groups React to QM

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Around the Web

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• Federal Reserve Issues Two Consent Cease and Desist Orders Against JPMorgan Chase
• Government won't dominate housing finance (as much) in 2013
• S&P: 2013 Housing And Residential Mortgage Finance Outlook
• SIFMA Market Close Recommendations for the US Martin Luther King Day
• Home Prices Set to Jump in 2013: CoreLogic

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Today's Comments

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