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Mortgage Rates Hit Highest Levels In Months; Court Ruling on Cordray Appointment
Posted to: Daily Newsletter
Friday, January 25, 2013 4:19 PM

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Jan 25, 2013 2:30PM

Mortgage Rates Hit Highest Levels In Months, More Volatility Ahead

Mortgage rates skyrocketed to their highest levels since August on Friday, both as a part of an ongoing move higher that began yesterday and more specifically in reaction to overnight events in Europe. Strong economic data in Germany sent interest rates initially higher overnight, but the bigger surge followed an ECB announcement detailing the 278 of 523 European banks that had already begun paying back 3-year loans made by the ECB in late 2011. MBS (the mortgage-backed securities that most directly...

Jan 25, 2013 1:50PM

Court Ruling Jeopardizes Cordray's Recess Appointment

The U.S. Court of Appeals for the District of Columbia just ruled that three recess appointments made by President Barack Obama last year are constitutionally invalid . The Court ruled specifically on appointments made to the National Labor Relations Board (NLRB) during a Congressional recess last January but the ruling has implications for the recess appointment of Richard Cordray to be Director of the Consumer Financial Protection Bureau which was made on the same day. The Office of White House...


Micro News

2:54 PM:

Snowball Under It's Own Momentum. More Reprice Risk

12:58 PM:

Reprices Hitting Now, And Remain Likely In Most Cases

12:35 PM:

Volatility Increases After EU Close, MBS At Lows, Reprice Risk

9:58 AM:

Why Are Bond Markets So Much Weaker This Morning?

3:38 PM:

Late Day Weakness as Equities Bounce Back. Caution...

2:10 PM:

Bounce Back Continues. Positive Reprices More Likely

1:20 PM:

No Response To TIPS, Holding Ground Off Previous Lows

11:02 AM:

Treading Water At Technically Precarious Levels

Around the Web

Video News

BofA's Moynihan on U.S. Lending, Housing, Economy

New Home Sales Down 7.3% in December

U.S. Ex-Sen. Kaufman on Geithner, Lew, Banking


Today's Comments

Frank Ceizyk

"Wow--we're back to blame and hopelessness after this news? HARP 2.0 is allowing so many upside down borrowers to refinance and reducing the likelihood..."

Ted Rood

"So true, Julian. I've always said that part of something is better than all of nothing, and I'd really stressing that to my clients currently at..."

cindy vance

"I have been lending for over 25 years and I did not take advantage and overcharge my borrowers. You are all correct and unfortunately, it is true, the..."

Today's Q&A

"Primary Home refinanced October, Buying new home now. Cant get another "primary" loan."

"Will my credit score be affected by 2 mortgage loan applications and a HELOC?"

"How to fill out a GFE correctly?"


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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.96%
  • |
  • 15 Yr FRM 3.16%
  • |
  • Jumbo 30 Year Fixed 3.81%
MBS Prices:
  • 30YR FNMA 4.5 108-20 (0-03)
  • |
  • 30YR FNMA 5.0 110-27 (0-01)
  • |
  • 30YR FNMA 5.5 111-27 (0-02)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%