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FHA Looks to Shore Up Finances with New MIP Changes; Fed Statement No Help to Rates
Posted to: Daily Newsletter
Wednesday, January 30, 2013 5:46 PM

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Jan 30, 2013 3:15PM

FHA Looks to Shore Up Finances with New MIP Changes

Federal Housing Administration Commissioner Carol Galante has just announced several significant changes to FHA requirements, processes, and fees in an ongoing effort by the agency to shore up its Mutual Mortgage Insurance Fund (MMI Fund.) The first change - the consolidation of FHA's Standard Fixed-Rate Home Equity Conversion Mortgage (HECM) with its Saver Fixed Rate HECM - was officially announced today. HECM is commonly referred to as a reverse mortgage and is available only to homeowners over...

Jan 30, 2013 4:07PM

Mortgage Rates Hurt By GDP, Fed Statement Not Much Help

Mortgage rates began the day at broadly higher levels, as bond markets moved higher in yield overnight and again after the morning's economic data. Even though this morning's GDP was weaker than expected, bond markets strengthened only briefly before continuing further along yesterday's path of weakness. Typically, weak economic data suggests stronger moves in bond markets, in which MBS (the mortgage-backed-securities that directly affect mortgage rates) operate. Rates were generally weaker than...


Micro News

3:32 PM:

Supportive Bounce Off Pre-FOMC Levels. Reprice Potential

2:47 PM:

FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES

2:23 PM:

First Moves Are Positive, but Muted. Stay Cautious!

2:11 PM:

All Quiet Ahead Of FOMC. Big Potential Energy

10:28 AM:

Leaking Back To Weaker Levels After Morning Volatility

8:49 AM:

ECON: Q4 Advance GDP Falls 0.1 Percent, Much Weaker Than Expected

8:26 AM:

ECON: ADP Private Payrolls Stronger Than Expected

1:41 PM:

Here We Go.... Breaking Into New Lows... Stock Lever In Play

Around the Web

Video News

Sigtarp's Quarterly Report to Congress

Fed Continues Buying Bonds

Santelli's Midday Bond Report


Today's Comments

asudevils

"click the compensation plan hyperlink"

Elijah Orozco

"I don't see anything about Wells Fargo in the article?"

Chris Kopec

"I would guess the supply is limited because people believe their homes are worth more than what they currently would receive in this foreclosure-distorted..."

Today's Q&A

"We foolishly cosigned a mortgage loan for my daughter "

"Working with an Owner/developer "

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


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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.24%
  • |
  • 15 Yr FRM 3.36%
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  • Jumbo 30 Year Fixed 4.08%
MBS Prices:
  • 30YR FNMA 4.5 107-21 (0-01)
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  • 30YR FNMA 5.0 110-08 (0-02)
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  • 30YR FNMA 5.5 110-29 (0-04)
Recent Housing Data:
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  • Refinance Index 4.14%
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  • FHFA Home Price Index 0.67%