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  • Thu, Apr 23 2015
  • 11:57 PM » Justice Department's ECOA report describes joint CFPB activity
    Published Thu, Apr 23 2015 11:57 PM by www.cfpbmonitor.com
    Barbara S. Mishkin The U.S. Department of Justice recently issued the Attorney General's 2014 Annual Report to Congress Pursuant to the Equal Credit Opportunity Act Amendments of 1976. The report discusses the DOJ’s 2014 ECOA enforcement activities as well as what the report describes as the DOJ's “lending work” under the Fair Housing Act and the Servicemembers Civil... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 11:49 PM » Freddie Mac: 30 Year Mortgage Rates decrease to 3.65% in Latest Weekly Survey
    Published Thu, Apr 23 2015 11:49 PM by Calculated Risk Blog
    From Freddie Mac today: Mortgage Rates Move Down Slightly Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down slightly this week and remaining near their 2015 lows as the spring homebuying season continues. ... 30-year fixed-rate mortgage (FRM) averaged 3.65 percent with an average 0.6 point for the week ending April 23, 2015, down from last week when it averaged 3.67 percent. A year ago at this time, the 30-year FRM averaged 4.33 percent. 15-year FRM this week averaged 2.92 percent with an average 0.6 point, down from last week when it averaged 2.94 percent. A year ago at this time, the 15-year FRM averaged 3.39 percent. Click on graph for larger image. This graph shows the 30 year and 15 year fixed rate mortgage interest rates from the Freddie Mac Primary Mortgage Market Survey®.   30 year mortgage rates are up a little (30 bps) from the all time low of 3.35% in late 2012, but down from 4.33% a year ago.  The Freddie Mac survey started in 1971. Mortgage rates were below 5% back in the 1950s. The PMMS is a weekly survey. Here is an update on daily rates from Matthew Graham at Mortgage News Daily: Mortgage Rates Hold Ground at Recent Highs Freddie collects data for the Survey from Monday through Wednesday, but most of the responses have been received by Tuesday. This week, that meant that most of the respondents had not yet seen the steep losses on Wednesday. Naturally then, Freddie's numbers suggest rates are lower than they actually are by the time people read about them on Thursday morning. Rates are, in fact, markedly higher than last week's. Whereas most top tier scenarios were being quoted 3.625% for conventional 30yr fixed loans last week, 3.75% is more prevalent today
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:49 PM » Real Estate Rally Breathing Life Into Commercial Mortgage Bonds
    Published Thu, Apr 23 2015 11:49 PM by Bloomberg
    Bloomberg Real Estate Rally Breathing Life Into Commercial Mortgage Bonds Bloomberg Bank of America's notes are secured by a loan refinancing The Squaire, the Frankfurt office and hotel complex so large it boasts its own postal code, which is owned by IVG Immobilien AG. Photographer: Roland Horn/The Squaire via bloomberg EDITOR'S ...
  • 4:20 PM » More Builder Results
    Published Thu, Apr 23 2015 4:20 PM by Calculated Risk Blog
    From housing economist Tom Lawler: PulteGroup reported that net home orders in the quarter ended March 31, 2015 totaled 5,139, up 5.7% from the comparable quarter of 2014. The average net order price last quarter was $332,400, up 0.5% from a year ago. Home deliveries last quarter totaled 3,365, down 2.1% from the comparable quarter of 2014, at an average sales price of $323,000, up 1.9% from a year ago. The company's order backlog at the end of March was 7,624, up 5.9% from last March. Pulte's net home building margin was 22.7%, compared to 23.8% a year ago. Meritage Homes reported that net home orders in the quarter ended March 31, 2015 totaled 1,979, up 29.8% from the comparable quarter of 2014. The average net order price last quarter was $396,000, up 8.8% from a year ago. Home deliveries totaled 1,335, up 20.4% from the comparable quarter of 2014, at an average sales price of $387,000, up 5.7% from a year ago. The company's order backlog at the end of March was 2,758k up 22.0% from last quarter. The company's gross home building margin last quarter was 18.5%, down from 22.5% a year ago. M/I Homes reported that net home orders in the quarter ended March 31, 2015 totaled 1,108, up 12.8% from the comparable quarter of 2014. Home deliveries last quarter totaled 717, down 2.0% from the comparable quarter of 2014, at an average sales price of $325,000, up 8.7% from a year ago. The company's order backlog at the end of March was 1,613, up 5.8% from last March, at an average order price of $358,000, up 9.8% from a year ago. The company's gross home building margin last quarter was 21.7%, unchanged from a year ago. The general theme of builder reports so far compared to a year ago are (1) significantly stronger growth in net orders; (2) substantially lower increases in sales prices (with the exception of M/I Homes); and (3) lower gross margins (with the exception of M/I Homes). Here are some summary stats.   Net Orders Settlements Average...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:20 PM » Quicken sued over FHA-insured loans
    Published Thu, Apr 23 2015 4:20 PM by Market Watch
    The U.S. Department of Justice on Thursday sued Quicken Loans Inc., alleging the mortgage lender lied to the government when making loans backed by the Federal Housing Administration.
  • 2:38 PM » Lynch to Keep Pressure on Banks Facing Mortgage Probes
    Published Thu, Apr 23 2015 2:38 PM by Bloomberg
    Bloomberg Lynch to Keep Pressure on Banks Facing Mortgage Probes Bloomberg Loretta Lynch, Brooklyn prosecutor and nominee to replace U.S. Attorney General Eric Holder, listens during a Senate Judiciary Committee nomination hearing in Washington, D.C., on Jan. 28, 2015. Photographer: Andrew Harrer/Bloomberg ...
  • 2:38 PM » AT&T Said to Plan $17.5 Billion Bond Deal for DirecTV Takeover
    Published Thu, Apr 23 2015 2:38 PM by Bloomberg
    AT&T Said to Plan $17.5 Billion Bond Deal for DirecTV Takeover Bloomberg AT&T Inc. is planning to sell $17.5 billion in bonds to finance its purchase of DirecTV, in what's shaping up to be the third-biggest corporate debt offering on record. The deal got about $65 billion of orders as yield-starved investors swarmed what may be the ... and more »
  • 2:03 PM » 'Stale' homes are tightening up the housing market
    Published Thu, Apr 23 2015 2:03 PM by CNBC
    Homes that have languished on the market for more than a month with no buyer interest are hurting the spring housing market.
  • 1:51 PM » House passes bill to cut CFPB funding; White House threatens veto
    Published Thu, Apr 23 2015 1:51 PM by www.cfpbmonitor.com
    Barbara S. Mishkin Yesterday, the House of Representatives, by a vote of 235-183, passed H.R. 1195, titled the “Bureau of Consumer Financial Protection Advisory Boards Act.” As originally proposed, the bill would codify the CFPB’s existing advisory councils for community banks and credit unions (and rename them “advisory boards”) and establish a new Small Business Advisory Board. According... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 1:48 PM » Radian Adds Unemployment Insurance to Coax Would-Be Homebuyers
    Published Thu, Apr 23 2015 1:48 PM by Bloomberg
    Radian Adds Unemployment Insurance to Coax Would-Be Homebuyers Bloomberg Radian Group Inc. will broaden some mortgage-insurance policies to provide relief when borrowers lose their jobs, in a bid to stoke demand among homebuyers pressured by government fees and tight access to credit. The insurer will give the coverage to ...
  • 11:47 AM » Housing Recovery Slow and Steady in 2015, Will Pick Up Pace Next Year
    Published Thu, Apr 23 2015 11:47 AM by NAHB
    Press Release
  • 11:47 AM » PulteGroup Falls After Builder's Earnings Miss Estimates
    Published Thu, Apr 23 2015 11:47 AM by Bloomberg
    PulteGroup Falls After Builder's Earnings Miss Estimates Bloomberg PulteGroup Inc., the third-largest U.S. homebuilder, slid the most in almost two years after reporting profit that missed analyst estimates. First-quarter net income fell to $55 million, or 15 cents a share, from $74.8 million, or 19 cents, a year earlier, the ...
  • 10:23 AM » Freddie Mac Primary Mortgage Market Survey
    Published Thu, Apr 23 2015 10:23 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Move Down Slightly
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:23 AM » U.S. new home sales tumble after months of strong gains
    Published Thu, Apr 23 2015 10:23 AM by Reuters
    WASHINGTON, April 23 (Reuters) - - New U.S. single-family home sales in March recorded their biggest drop in more than 1-1/2 years, snapping three straight months of hefty gains, in a temporary setback for the housing market.
  • 9:49 AM » CFPB praises FICO announcement on credit score sharing
    Published Thu, Apr 23 2015 9:49 AM by www.cfpbmonitor.com
    Barbara S. Mishkin The CFPB has praised an announcement by FICO that it will make credit scores available to financially struggling consumers through nonprofit credit and financial counseling organizations as “a step in the right direction” that will allow “millions of consumers to receive the credit scores and credit reports that nonprofit credit counselors purchase on their behalf.” In its... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 8:50 AM » Americans Again Say Real Estate Is Best Long-Term Investment
    Published Thu, Apr 23 2015 8:50 AM by www.gallup.com
    For the second straight year, more Americans say real estate is the best long-term investment over four other options, while stocks ranks No. 2. Gold, which held the top spot a few years ago, is now third.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 8:46 AM » Fed Should Make Bond Buys a Regular Policy Tool, A Boston Fed Paper Finds
    Published Thu, Apr 23 2015 8:46 AM by WSJ
    The Federal Reserve should consider keeping bond buys as a regular tool of monetary policy rather than return to a more conventional policy relying just on setting short-term rates, a newly-released paper from the Federal Reserve Bank of Boston says.
  • 8:37 AM » Applications for US unemployment benefits stayed low last week at 295K, signaling few layoffs
    Published Thu, Apr 23 2015 8:37 AM by CNBC
    WASHINGTON- Applications for US unemployment benefits stayed low last week at 295 K, signaling few layoffs.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.00%
  • |
  • 15 Yr FRM 2.56%
  • |
  • Jumbo 30 Year Fixed 3.36%
MBS Prices:
  • 30YR FNMA 4.5 108-05 (0-01)
  • |
  • 30YR FNMA 5.0 109-26 (0-01)
  • |
  • 30YR FNMA 5.5 111-02 (0-10)
Recent Housing Data:
  • Mortgage Apps 4.56%
  • |
  • Refinance Index 8.23%
  • |
  • Purchase Index -1.53%