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FHA's Wants Increased Authority to Hold Lenders Accountable; Mortgage Rates Jump to 2013 Highs
Posted to: Daily Newsletter
Wednesday, February 13, 2013 5:39 PM

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Feb 13, 2013 3:43PM

FHA's Galante Asks Congress For Increased Authority To Hold Lenders Accountable

On Wednesday the House Financial Services Committee held a second in a scheduled series of hearings to look into the financial condition of the Federal Housing Administration (FHA) . The sole witness at the hearing titled "Bailout, Bust, or Much Ado about Nothing?: A Look at the Federal Housing Administration's 2012 Actuarial Report" was Carol Galante , Assist Secretary of the Department of Housing and Urban Development and Acting FHA Commissioner. Galante briefly recounted the history of the housing...

Feb 13, 2013 4:13PM

Mortgage Rates Jump To Highest Levels Of The Year

Mortgage rates surged higher at their quickest pace since late January on Wednesday eclipsing the previous highs of the year seen around the same time. For many lenders--and for the first time since mid 2012, this takes Best-Execution for 30yr Fixed, Conventional Loans back up to 3.75%. Some lenders remain at 3.625% and lower rates are still quite viable in certain situations. As always, remember that what we refer to as "best-execution" can vary depending on personal preferences. Also, it's important...


Micro News

2:20 PM:

Equities Weakness Helping Bounce Back Potential

1:05 PM:

MBS Hit Lows After 10yr Auction

12:44 PM:

10yr Auction Bullet Point Preview

9:10 AM:

Head Fake Bounce After Data, Now Back To Weakest Levels

8:39 AM:

ECON: Retail Sales Rise 0.1 pct, As Expected

2:24 PM:

Incremental Increase In Negative Reprice Risk

1:17 PM:

MBS Back to Lows After Auction, But Not Because Of It

11:09 AM:

Stocks Taking Over Where Currencies Left Off

Around the Web

Video News

U.S. Housing in `Cyclical Expansion,' Hatzius Says

Zell on State of Housing Recovery

Rep Hensarling: FHA Nation's Largest 'Subprime' Lender


Today's Comments

Ted Rood

"Let's see, FHA is $16,000,000,000 in the hole. Our best and brightest's solution: Raise rates for both refinances and purchases, giving borrowers..."

Ted Rood

"Industry spokesmen disputed the 40 million error projection, stating "we have resolved several of those, and are now down to only 39,999,861 current..."

NREYNOLDS

"Can the CDIA not agree to an interview on the condition that they be allowed to approve the final edit? Usually 60 Minutes is right on the money when they..."

Today's Q&A

"Advertising as an LLC"

"Can I take the California real estate licensing test in North Carolina "

"Buying a short sale"


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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.92%
  • |
  • 15 Yr FRM 3.12%
  • |
  • Jumbo 30 Year Fixed 3.76%
MBS Prices:
  • 30YR FNMA 4.5 108-21 (0-00)
  • |
  • 30YR FNMA 5.0 110-29 (0-00)
  • |
  • 30YR FNMA 5.5 111-30 (0-02)
Recent Housing Data:
  • Mortgage Apps 11.70%
  • |
  • Refinance Index 12.14%
  • |
  • Purchase Index 9.56%