Daily Newsletter

Residential Loan Charge-offs at Five Year Low; FHA and VA Price Jumps

Glenn Setzer — Tue, 16 Apr 2013 20:48:15 GMT

Apr 16, 2013 4:42PM

Residential Loan Charge-offs Down 23 Percent from Q4, at Five Year Low

The Equifax March National Consumer Credit Trends Report presents more evidence that the home finance related credit picture is improving rapidly. The report shows that the level of home finance balances written off in the first quarter was down nearly 23 percent from that written off in the fourth quarter of 2012. Lenders wrote off $43.1 billion in so called severe derogatories in the first quarter, a five year low . These include loans for which foreclosures have been completed, loans where the...

Apr 16, 2013 11:25AM

Transactions Covered by the CFPB; FHA and VA Pricing Jump Explained; More on Assumability of Loan Types

Well, April 15 is past us now. The United States is dealing with the terrible tragedy in Boston, and our thoughts go out to that city. April 15 was also "tax day": in 2009, Americans paid $866 billion in taxes to the federal government with the top 1% of earners (those making more than $343,927) paying 37% of that figure. The bottom 50%, those who earned less than $32,396, paid $19 billion in taxes. Taxes do influence behavior - with the November election in California raising its state taxes, for...

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Micro News

4:05 PM:	Revisiting Lows In Final Hour. Moderate Negative Reprice Risk
1:10 PM:	MBS Head Back To Opening Levels
9:26 AM:	ECON: Industrial Output Stronger Than Expected
9:22 AM:	Bonds Weaker Overnight, But Holding Ground In Domestic Trade
8:44 AM:	ECON: Consumer Prices Slightly Lower Than Expected
8:40 AM:	ECON: Multifamily Leads Housing Starts Higher
12:56 PM:	MBS Grudgingly Break Into New Highs. Positive Reprice Potential
10:06 AM:	ECON: NAHB Housing Market Index Lowest Since October

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Apartment Construction Red Flags
	Santelli's Midday Bond Report
	Santelli: 'We Are ALL Currency Manipulators!'

»View More Video News

Today's Comments

	"Update to the Update: I wrote a sort of play by play if you will of my wife and my efforts to get a Hamp back in 2009. There were three articles submitted..."
	"I wonder how they treat consumer complaints about the CFPB, specifically how they have a director who has not obtained Senate approval as required? I'm..."
	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."

»View More Comments

Today's Q&A

"My husband is not on the mortgage or deed. "

"Is there any risk to me if the bank I'm borrowing from does not require Lender's Title Insurance?"

"Applying with more than one lender"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.49	0.01

15YR	2.80	0.00

FHA30YR	3.25	0.00

Jumbo30YR	3.60	0.01

5/1ARM	3.00	0.01

MBS Quotes

30YR FNMA 3	104-02	-0-07

30YR FNMA 3	106-07	-0-03

30YR FNMA 4	106-28	0-00

30YR FNMA 4	107-21	0-02

Treasuries

2 YR	0.2299	0.0079

3 YR	0.3366	0.0132

5 YR	0.7018	0.0228

7 YR	1.1437	0.0337

10 YR	1.7241	0.0361

30 YR	2.9092	0.0412

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Building Permits	-3.94%

Housing Starts	7.02%

Construction	-0.59%

Mortgage Application	4.48%

Mortgage Refinance	6.32%

Mortgage Purchase	-1.27%

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California Home Prices Soar; Mortgage Rates Near 2013 Lows

Glenn Setzer — Mon, 15 Apr 2013 21:09:46 GMT

Apr 15, 2013 3:58PM

Tight Inventories Spark California Home Price Boom

A sudden surge in single family home prices in California coupled with flat sales are both attributed by the California Association of Realtors® (C.A.R.) to a scarcity of available homes for sale, especially in the lower price ranges. The median price is at a five year high after an unprecedented spike in March. Existing single-family homes sold at a seasonally adjusted annual rate of 417,520 in March, up a scant 0.1 percent from a rate of 417,310 in February but down 4.9 percent from the March...

Apr 15, 2013 2:08PM

Mortgage Rates Improve Slightly, Near 2013 Lows

Mortgage rates moved lower for the 3rd straight day, moderately extending the solid improvements seen late last week, and bringing rates very close to 2013 lows. Depending on the rate, some lenders are actually slightly lower in cost than they were on April 5th after the weak Employment Situation Report resulted in the best rate sheet offerings since early January, but the majority are just marginally higher. Either way, b est execution ( what is this? ) for 30yr Fixed loans is near is firmly 3.5...

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Micro News

12:56 PM:	MBS Grudgingly Break Into New Highs. Positive Reprice Potential
10:06 AM:	ECON: NAHB Housing Market Index Lowest Since October
9:09 AM:	Bond Markets Slightly Stronger, Considering Resistance Levels
8:35 AM:	ECON: Empire State Manufacturing Weaker Than Expected
1:13 PM:	Stock Lever Disconnect. New Highs For MBS. Positive Reprices
11:38 AM:	Stock Lever Staying Connected, For Better Or Worse
10:17 AM:	ECON: Business Inventories Rise Much Less Than Expected
10:13 AM:	ECON: Consumer Sentiment Hits Nine Month Low

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Fed to Blame for Sell-off?
	Santelli's Midday Bond Report
	Rising Costs Cuts Home Builder Confidence

»View More Video News

Today's Comments

	"Update to the Update: I wrote a sort of play by play if you will of my wife and my efforts to get a Hamp back in 2009. There were three articles submitted..."
	"I wonder how they treat consumer complaints about the CFPB, specifically how they have a director who has not obtained Senate approval as required? I'm..."
	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."

»View More Comments

Today's Q&A

"Is there any risk to me if the bank I'm borrowing from does not require Lender's Title Insurance?"

"Applying with more than one lender"

"Who qualifies for FHA 30 year fixed mortgage rates?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.48	-0.02

15YR	2.80	-0.01

FHA30YR	3.25	0.00

Jumbo30YR	3.59	-0.02

5/1ARM	2.99	0.01

MBS Quotes

30YR FNMA 3	104-09	0-05

30YR FNMA 3	106-10	0-03

30YR FNMA 4	106-28	0-01

30YR FNMA 4	107-19	-0-01

Treasuries

2 YR	0.2220	-0.0080

3 YR	0.3234	-0.0106

5 YR	0.6793	-0.0097

7 YR	1.1098	-0.0222

10 YR	1.6883	-0.0327

30 YR	2.8681	-0.0499

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	4.48%

Mortgage Refinance	6.32%

Mortgage Purchase	-1.27%

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Building Permits	4.65%

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FHFA Extends HARP Through 2015; Mortgage Rates Fall; Amazing Detroit Mortgage Stats

Glenn Setzer — Thu, 11 Apr 2013 20:17:33 GMT

Apr 11, 2013 1:15PM

FHFA Extends HARP by 2 Years, Through 2015

The Home Affordable Refinance Program (HARP) has been extended for two years beyond its scheduled expiration on December 31. The Federal Housing Finance Agency (FHFA) announced the extension today saying it had determined the extension will provide borrowers with additional opportunities to refinance, give clear guidance to lenders, and reduce losses for Fannie Mae, Freddie Mac and taxpayers. HARP is designed specifically for current homeowners with mortgages owned or guaranteed by Freddie Mac or...

Apr 11, 2013 3:28PM

Mortgage Rates Fall After Three Days Spent Moving Higher

Mortgage rates finally moved lower today, after rising moderately during the first 3 days of the week. Today's changes are fairly small when viewed against the damage done since last Friday, but last Friday's rates were exceptional. While not quite as good as the offerings seen from last Thursday through this Wednesday, today's rates are still among the best of the year. It's interesting to note that the best and worst rates in 2013 are separated by only 0.25% (3.5-3.75%) with most days averaging...

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Micro News

1:40 PM:	Treasuries Pop Higher, MBS Heading Lower, Risk Uncertainty
12:25 PM:	FHFA Extends HARP to 2015
9:17 AM:	Stronger Following Jobless Claims, Uneventful Overnight
8:49 AM:	ECON: Import Prices As Expected, Export Prices Lower
8:41 AM:	ECON: Jobless Claims Lower Than Expected
2:45 PM:	MBS Hit New Lows. Negative Reprice Risk Increasing
1:00 PM:	10yr Auction Preview
12:00 PM:	MBS Pushed Back To Lows By TSY Weakness. Holding Now

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Santelli's Midday Bond Report
	Bank CEOs Have President's 'Ear' Today
	Santelli's Morning Bond Update

»View More Video News

Today's Comments

	"I wonder how they treat consumer complaints about the CFPB, specifically how they have a director who has not obtained Senate approval as required? I'm..."
	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."

»View More Comments

Today's Q&A

"what is the value of a brand new double wide"

"Refinance a mortgage using only a portion of land and improvements for security"

"i want to relocate to south carolina from rhode island. "

»View More Q&A

Market Data

Mortgage Rates

30YR	3.53	-0.01

15YR	2.84	-0.01

FHA30YR	3.25	0.00

Jumbo30YR	3.64	-0.03

5/1ARM	3.00	-0.02

MBS Quotes

30YR FNMA 3	103-23	0-07

30YR FNMA 3	105-29	0-04

30YR FNMA 4	106-21	0-01

30YR FNMA 4	107-16	-0-03

Treasuries

2 YR	0.2340	0.0000

3 YR	0.3522	-0.0028

5 YR	0.7275	-0.0065

7 YR	1.1883	-0.0117

10 YR	1.7913	-0.0137

30 YR	2.9975	-0.0075

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	4.48%

Mortgage Refinance	6.32%

Mortgage Purchase	-1.27%

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Building Permits	4.65%

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Foreclosure Settlement Payments up to $125,000; HARP Report; Servicer Awards

Glenn Setzer — Tue, 09 Apr 2013 21:40:25 GMT

Apr 9, 2013 3:07PM

Five Servicers Attain Four STAR Level in Fannie Mae Program

Fannie Mae's Servicer Total Achievement and Rewards Program (STAR) hit a new milestone in 2012. For the first time since the award was initiated in 2010, servicers have achieved four STAR designations . Five servicers reached that level in the most recent assessments. Fannie Mae created STAR to measure servicer performance across key operational and performance areas. Servicers are divided into three peer groups based on the number of Fannie Mae loans they service and are measured relative to their...

Apr 9, 2013 2:26PM

Foreclosure Settlement Payments Range from $300 up to $125,000

Homeowner beneficiaries of the recent settlement agreement made by the Comptroller of the Currency (OCC) and the Federal Reserve Board with 13 mortgage servicers can expect to begin receiving payments next week . The agreement that ended the independent foreclosure reviews mandated earlier by the Fed and OCC call for a total of $3.5 billion in cash payments to 4.2 million borrowers whose homes were in any stage of foreclosure in 2009 or 2010 and serviced by one of the 13 banks or their subsidiaries...

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Micro News

1:26 PM:	3yr Auction Misdirection. Stocks/Risk Hurting Bond Markets
11:37 AM:	Starting to Look Like Yesterday. So... Time For Weakness?
10:12 AM:	ECON: Wholesale Sales Increase, Inventories Fall Most in 1.5 yrs
9:20 AM:	MBS, Treasuries Back To Green After Opening Slightly Weaker
3:31 PM:	Widespread Negative Reprices As MBS Approach Friday AM Levels
1:56 PM:	Stocks and Yields Higher, MBS Lower, More Reprice Risk
1:01 PM:	Negative Reprice Risk Makes Debut As Liquidity Takes Toll
9:51 AM:	Curbing asset purchases could reduce risks: Fed's Pianalto

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Treasury Sells $32 Billion In 3-Year Notes
	Santelli's Midday Bond Report
	We Decided to Exit Fannie and Freddie: Bass

»View More Video News

Today's Comments

	"I wonder how they treat consumer complaints about the CFPB, specifically how they have a director who has not obtained Senate approval as required? I'm..."
	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."

»View More Comments

Today's Q&A

" Do Servicing companies handle private held mortgages?"

" how dos a contract work between a buyer and seller"

"Do is good to refinance with the MIP increase?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.52	0.02

15YR	2.84	0.01

FHA30YR	3.25	0.00

Jumbo30YR	3.66	0.02

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	103-24	-0-10

30YR FNMA 3	105-29	-0-08

30YR FNMA 4	106-22	-0-06

30YR FNMA 4	107-21	-0-04

Treasuries

2 YR	0.2341	0.0041

3 YR	0.3348	-0.0002

5 YR	0.7003	-0.0047

7 YR	1.1531	0.0001

10 YR	1.7520	0.0070

30 YR	2.9377	0.0267

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	-4.01%

Mortgage Refinance	-5.58%

Mortgage Purchase	1.38%

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Building Permits	4.65%

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Keeping the 30 Year Mortgage? Rates Improve After Weak Manufacturing Data

Glenn Setzer — Tue, 02 Apr 2013 19:40:37 GMT

Apr 2, 2013 2:55PM

Mortgage Rates Near March Lows As Potential Volatility Looms

Mortgage rates held steady or improved slightly today in MOST cases, though this isn't true for every lender. The day itself was flat and uneventful for the Mortgage-backed-securities (MBS) that most directly affect rates, though trading levels were slightly weaker. This means that lenders passed along some of the strength yesterday afternoon that wasn't necessarily enough to justify positive reprices. None of the improvements were enough to suggest a change to the prevailing b est execution ( what...

Apr 2, 2013 11:45AM

MBS MID-DAY: Europe Leads Risk Rally, MBS Standing Ground

- Factory Orders +3.0 vs +2.9 Consensus - January revised from -2.0 to -1.0 - Excluding Defense Sector +2.4 vs +1.0 in Jan - February Durable Goods revised to 5.6 from 5.7 - Excluding Transportation +0.3 vs +2.0 Market Reaction: stocks are slightly higher

View: Front Page | Headline Viewer

Micro News

1:51 PM:	Fed's Kocherlakota repeats call for more policy easing
1:49 PM:	Fed may be able to pull back on stimulus this year-Lockhart
1:16 PM:	MBS Continue Holding, But Just Barely
10:08 AM:	ECON: Factory Orders Slightly Higher Than Expected
9:12 AM:	Moderately Weaker Overnight, Europe Leads The Way
3:14 PM:	Quiet Session Continues. Several Positive Reprices
10:23 AM:	Bond Markets Improve After ISM Data, But Hitting Resistance
10:11 AM:	ECON: Construction Spending Slightly Higher Than Expected

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Fannie Mae Record Profit
	Lockhart Predicts End of Asset Purchases
	90 Seconds with Art Cashin: Sell in May Go Away?

»View More Video News

Today's Comments

	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."
	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

»View More Comments

Today's Q&A

"80% LTV Refinance Cash Out Loans"

"delaying first payment buying a VA home "

"gelsying first payment buying a VA home "

»View More Q&A

Market Data

Mortgage Rates

30YR	3.60	-0.01

15YR	2.91	-0.02

FHA30YR	3.30	-0.01

Jumbo30YR	3.70	0.00

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	103-07	-0-05

30YR FNMA 3	105-22	-0-02

30YR FNMA 4	106-22	-0-01

30YR FNMA 4	107-24	-0-01

Treasuries

2 YR	0.2461	0.0041

3 YR	0.3537	0.0057

5 YR	0.7724	0.0174

7 YR	1.2538	0.0238

10 YR	1.8624	0.0274

30 YR	3.1015	0.0235

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

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Keeping the 30 Year Mortgage? Rates Improve After Weak Manufacturing Data

Glenn Setzer — Mon, 01 Apr 2013 21:21:25 GMT

Apr 1, 2013 3:29PM

Mortgage Rates Improve After Weak Manufacturing Data

Mortgage rates improved slightly today, helped along by a weak manufacturing data on an otherwise quiet day. Had it not been for that report at 10am, bond markets including MBS ('mortgage-backed-securities' that most directly influence mortgage rates) might have remained in the weaker territory that characterized the morning hours. Several lenders released positively revised rate sheets in the afternoon, bringing the average back down to something just slightly better than "unchanged" vs Thursday...

Apr 1, 2013 11:43AM

Thoughts on Keeping the 30-yr Mortgage; Tax Implications of Cancelled Mortgage Debt

There continues to be a debate about whether or not 30-yr mortgages/liens are a good idea or not . The MBA's president - Dave Stevens - weighed in on the argument last week. "On the one hand it could be argued that the fully pre payable 30 year fixed rate loan was not a necessity in looking back historically. There is some truth to that - to be clear - mortgage interest rates have been on a steady decline for over three decades since their peak in 1980. While clearly home-owner preference for the...

View: Front Page | Headline Viewer

Micro News

3:14 PM:	Quiet Session Continues. Several Positive Reprices
10:23 AM:	Bond Markets Improve After ISM Data, But Hitting Resistance
10:11 AM:	ECON: Construction Spending Slightly Higher Than Expected
10:07 AM:	ECON: ISM Manufacturing Weaker Than Expected
9:07 AM:	ECON: Markit Manufacturing PMI Revised Slightly Lower
8:55 AM:	Quiet Overnight Session, Bond Markets Slightly Weaker
1:27 PM:	Big Buying At CME Close Keeps Range Contained
10:02 AM:	ECON: Chicago Business Barometer Weaker Than Expected

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Santelli's Midday Bond Report
	Construction Spending Up 1.2%; ISM 51.3
	Santelli's Morning Bond Update

»View More Video News

Today's Comments

	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."
	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

»View More Comments

Today's Q&A

"80% LTV Refinance Cash Out Loans"

"delaying first payment buying a VA home "

"gelsying first payment buying a VA home "

»View More Q&A

Market Data

Mortgage Rates

30YR	3.61	0.00

15YR	2.93	-0.01

FHA30YR	3.31	-0.01

Jumbo30YR	3.70	0.00

5/1ARM	3.02	0.01

MBS Quotes

30YR FNMA 3	103-11	0-07

30YR FNMA 3	105-23	0-04

30YR FNMA 4	106-23	0-04

30YR FNMA 4	107-25	0-02

Treasuries

2 YR	0.2422	-0.0078

3 YR	0.3484	-0.0056

5 YR	0.7548	-0.0142

7 YR	1.2302	-0.0228

10 YR	1.8348	-0.0172

30 YR	3.0783	-0.0257

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

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Mortgage Rates Break Cyprus Slide; Servicers Loan Performance; Freddie's New Streamlined Modification

Glenn Setzer — Wed, 27 Mar 2013 21:47:31 GMT

Mar 27, 2013 4:13PM

Mortgage Rates Break Cyprus Slide, Move to 2-Week Lows

Mortgage rates moved lower today at their fastest pace in more than a week, bringing them in line with their lowest levels since last week's Cyprus-related market movement. Lender pricing strategies continue to be varied and some lenders didn't improve nearly as much as the average. That said, it was enough to clearly tip the scales in favor of 3.625% as a prevailing Best-Execution rate ( what is this? ) for 30yr Fixed loans. 3.75% and 3.5% may be more viable depending on the scenario and the lender...

Mar 27, 2013 5:34PM

Servicers Report Loan Performance Continued to Increase in Q4

The Office of Comptroller of the Currency (OCC) is reporting that the quality of mortgage loans serviced by selected national and federal savings banks continued to improve in the fourth quarter of 2012. OCC's Mortgage Metric Report covers 29.0 million loans with $4.9 trillion in principal balances, approximately 57 percent of outstanding mortgage loans in the U.S. Current and performing loans increased from 88.6 percent in the third quarter to 89.4 percent at the end of December. In December 2012...

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Micro News

2:56 PM:	Back To Middle Of Today's Range. Negative Reprice Risk?
1:21 PM:	Uneventful 5yr Auction Leaves Gains Intact, Maybe More
10:09 AM:	ECON: Pending Home Sales -0.4 vs +0.2 Consensus
9:40 AM:	European Concerns Surge Overnight, Bond Markets Rally
4:01 PM:	Late Day Illiquidity Causing Volatility. MBS Slightly Weaker
2:39 PM:	Back To More Neutral Stance Into Afternoon
12:30 PM:	Edging Into Positive Reprice Territory
10:23 AM:	Relatively Tepid, Slightly Positive Response To Data

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Fed's Kocherlakota: Monetary Policy Not Accommodative Enough
	5-Year Note Auction Results
	Santelli: Too Early to Talk Euro Recovery

»View More Video News

Today's Comments

	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."
	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

»View More Comments

Today's Q&A

"AZ Lot Loans Available?"

"Flipping a home with out a license"

"Can I use a section of raw land as equity for a down payment for our new home? "

»View More Q&A

Market Data

Mortgage Rates

30YR	3.60	-0.04

15YR	2.93	-0.03

FHA30YR	3.31	-0.04

Jumbo30YR	3.70	-0.04

5/1ARM	3.01	0.01

MBS Quotes

30YR FNMA 3	103-05	0-10

30YR FNMA 3	105-19	0-08

30YR FNMA 4	106-20	0-04

30YR FNMA 4	107-24	0-04

Treasuries

2 YR	0.2461	-0.0039

3 YR	0.3538	-0.0182

5 YR	0.7354	-0.0406

7 YR	1.2028	-0.0562

10 YR	1.8454	-0.0656

30 YR	3.0863	-0.0567

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

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Home Price Increases Accelerate; Lax Oversight at FHFA, GSEs; Shadow Inventory in Rapid Decline

Glenn Setzer — Tue, 26 Mar 2013 21:47:37 GMT

Mar 26, 2013 10:39AM

Home Prices Accelerate in January, Posting Highest Yearly Increase Since 2006

Average home prices increased in all 20 of the cities tracked by the S&P/Case-Shiller Home Price Indices over the 12 months ended in January. Each of Case-Shiller's city indices also increased the 10-City Composite by 7.3 percent and the 20-City Composite by 8.1 percent. Nineteen of the 20 cities had larger annual increases in January than they had in December. On a monthly basis the 10-City Composite increased 0.2 percent and the 20-City was up 0.1 percent. New York City had been the sole metropolitan...

Mar 26, 2013 9:07AM

OIG Finds GSEs, FHFA Lax in Oversight of Counterparty Compliance

Another report, the third in a week, has been issued by the Federal Housing Finance Agency's (FHFA) Office of Inspector General (OIG). The latest report is an assessment of FHFA's oversight of Fannie Mae's and Freddie Mac's (the GSEs) compliance with their contractual agreements with counterparties . Counterparties include entities that sell mortgage loans to the GSEs or who service loans for them. Both GSEs have written selling and servicing guides that their counterparties represent and warrant...

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Micro News

4:01 PM:	Late Day Illiquidity Causing Volatility. MBS Slightly Weaker
2:39 PM:	Back To More Neutral Stance Into Afternoon
12:30 PM:	Edging Into Positive Reprice Territory
10:23 AM:	Relatively Tepid, Slightly Positive Response To Data
10:09 AM:	ECON: New Home Sales Weaker Than Expected
10:05 AM:	ECON: Consumer Confidence Declines, Misses Expectations
9:19 AM:	Home Prices Accelerate in January 2013 According to the S&P/Case-Shiller Home Price Indices
9:16 AM:	Moderately Weaker After Uneventful Overnight Trading

»View All Micro News

Around the Web

»View More Around the Web

Video News

	All America Survey: Hot Housing Here to Stay?
	Wells Fargo's Website Attacked By Hackers
	Shiller: This Housing Recovery Gets a 'B'

»View More Video News

Today's Comments

	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."
	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

»View More Comments

Today's Q&A

"Can I use a section of raw land as equity for a down payment for our new home? "

"czn i sell my if I've had a loan modification?"

"a house has been transfered to me by a friend can his family try to reverse it"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.64	0.01

15YR	2.96	0.01

FHA30YR	3.35	0.01

Jumbo30YR	3.74	0.01

5/1ARM	3.00	0.00

MBS Quotes

30YR FNMA 3	102-27	-0-02

30YR FNMA 3	105-12	-0-02

30YR FNMA 4	106-16	-0-02

30YR FNMA 4	107-21	0-01

Treasuries

2 YR	0.2500	0.0040

3 YR	0.3724	-0.0026

5 YR	0.7759	-0.0111

7 YR	1.2594	-0.0116

10 YR	1.9111	-0.0089

30 YR	3.1427	-0.0033

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

S&P/Case Shiller	0.13%

New Home Sales	-4.64%

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

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Study Suggests Mortgage Market Insiders Just as Oblivious to Housing Crash as Rest of Wall Street

Glenn Setzer — Mon, 25 Mar 2013 20:49:05 GMT

Mar 25, 2013 1:05PM

Study Suggests Mortgage Market Insiders Just as Oblivious to Housing Crash as Rest of Wall Street

Were mid-level managers who essentially ran mortgage securitization during the housing boom aware of the systemic risks occurring in subprime portion of that market? Three researchers have looked at the home-buying behavior of a group of these analysts and determined that, whatever the level of their awareness, they typically did not expect those risks to lead to problems in the wider housing market. Ing-Haw Cheng and Sahil Raina of the Ross School of Business, University of Michigan and Wei Xiong...

Mar 25, 2013 3:38PM

Mortgage Rates Flat To Slightly Lower To Begin Shortened Week

Mortgage rates were, once again, unchanged in many cases today, though some lenders were slightly lower in cost than Friday's latest offerings. Trading levels in MBS (the mortgage-backed-securities that most directly influence rates) started the day off in territory that would have been consistent with higher rates, but improved fairly quickly as bond markets shrugged off news that Cyprus had reached a bailout agreement with the EU. Best-Execution for 30yr Fixed, Conventional loans is 3.625% to 3...

View: Front Page | Headline Viewer

Micro News

11:37 AM:	Eurogroup Pres Says Cyprus Deal Should Be Seen As Template
11:07 AM:	Italy Paves The Way For US Bond Market Improvement
9:19 AM:	Bond Markets Bounce As Italy Picks Up Where Cyprus Left Off
8:24 PM:	Treasuries Weaker After Tentative Cyprus Bailout News
2:18 PM:	Holding Up Nicely Post-EU Close. Reprice Risk Shifts Positively
10:14 AM:	Negative Reprice Risk Rising For Ealy Lenders Following Euro Headlines
9:25 AM:	MBS Bounce Back Slightly From Yesterday's Underperformance
12:34 PM:	Bouncing Back On Dueling Headlines, Crowds Forming Outside Cypriot Banks

»View All Micro News

Around the Web

»View More Around the Web

Video News

	The Fed vs. U.S. Economy
	Quicken CEO Emerson on Housing, Ally Agreement
	Santelli's Midday Bond Report

»View More Video News

Today's Comments

	"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."
	"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."
	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

»View More Comments

Today's Q&A

"czn i sell my if I've had a loan modification?"

"a house has been transfered to me by a friend can his family try to reverse it"

"Bankruptcy mortgage not reaffirmed, do I have to pay? "

»View More Q&A

Market Data

Mortgage Rates

30YR	3.63	-0.01

15YR	2.95	0.00

FHA30YR	3.34	-0.01

Jumbo30YR	3.73	-0.01

5/1ARM	3.00	-0.02

MBS Quotes

30YR FNMA 3	102-29	0-01

30YR FNMA 3	105-14	0-02

30YR FNMA 4	106-18	0-02

30YR FNMA 4	107-20	0-01

Treasuries

2 YR	0.2459	-0.0081

3 YR	0.3750	-0.0050

5 YR	0.7888	-0.0082

7 YR	1.2712	-0.0118

10 YR	1.9198	-0.0072

30 YR	3.1460	-0.0030

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

Housing Starts	0.77%

Construction	-0.59%

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Freddie Mac, FHFA Servicer Complaints; Gloom to Boom; Feast or Famine for Home Builders

Glenn Setzer — Thu, 21 Mar 2013 20:30:44 GMT

Mar 21, 2013 9:36AM

Report Finds Fault with Freddie Mac, FHFA Handling of Servicer Complaint Process

Freddie Mac owned or guaranteed 10.6 million mortgages that were being serviced by third parties at the end of 2012. Servicer responsibilities include handing of consumer complaints but if these complaints become serious enough to fall into the category of "escalated cases" there are special procedures to handle them. According to the Federal Housing Finance Agency's (FHFA) Servicing Alignment Initiative (SAI) servicers are required to report on the escalated cases they receive and resolve those...

Mar 21, 2013 9:48AM

Freddie Mac: Economic Outlook going from Gloom to Bloom

Freddie Macs senior economists Frank E. Nothaft and Leonard Kiefer said in the company's March Outlook that "the continued strengthening of the economy has brought good news for housing and mortgage markets so far this year" with nonfarm payrolls increasing by 236,000 in February and the unemployment rate dropping to 7.7 percent from 7.9 percent. While the unemployment rate remains well above what would be expected in a healthy economy, it's moving in the right direction. Near record-low mortgage...

View: Front Page | Headline Viewer

Micro News

12:34 PM:	Bouncing Back On Dueling Headlines, Crowds Forming Outside Cypriot Banks
11:51 AM:	Bond Markets Weaker After Cyprus Bank Headlines
10:12 AM:	ECON: Philly Fed Index Slightly Higher Than Expected
10:07 AM:	ECON: Existing Home Sales Rise Slightly Less Than Expected
9:47 AM:	ECON: FHFA House Price Index Up 0.6 Percent in January
9:08 AM:	Bond Markets Hold Firm Against Slight Weakness Overnight
8:34 AM:	ECON: Jobless Claims Slightly Lower Than Expected
3:38 PM:	Reprices Incrementally More Possible

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Cracks in Housing Recovery?
	Santelli's Midday Bond Report
	Housing Market in Dallas, TX

»View More Video News

Today's Comments

	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."
	"If there woud be more of a push for loan modifications with principal writedowns for those that have jobs and want to stay in their homes we would be in..."
	"Thanks Jann, this is directly related to our business. ( the trickle effect) We are talking to investors concerned with shrinking inventory as the spree..."

»View More Comments

Today's Q&A

"How can I avoid Capital Gains tax on my 2nd home "

"How to obtain copy of real estate closing"

"Conventional w/ Foreclosure over 5 years old in miami-dade county"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.64	0.01

15YR	2.94	0.01

FHA30YR	3.35	0.01

Jumbo30YR	3.74	0.01

5/1ARM	3.00	-0.01

MBS Quotes

30YR FNMA 3	102-24	0-03

30YR FNMA 3	105-11	0-03

30YR FNMA 4	106-15	0-02

30YR FNMA 4	107-19	0-01

Treasuries

2 YR	0.2500	0.0000

3 YR	0.3750	-0.0050

5 YR	0.7904	-0.0196

7 YR	1.2806	-0.0344

10 YR	1.9199	-0.0381

30 YR	3.1395	-0.0585

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

Housing Starts	0.77%

Construction	-0.59%

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LO Comp Based on Product Type?; Freddie Sues Over LIBOR; Looser Underwriting, Quicker Closes

Glenn Setzer — Wed, 20 Mar 2013 21:37:21 GMT

Mar 20, 2013 2:11PM

LO Compensation Based on Product Type? Warehouse Banks to Approve Comp Plans? More Views on Gfee Changes

I've been visiting Colorado this week, where some of the conversation involves yesterday's sentencing of two individuals for fraud. "The elaborate scheme involved phony or inflated property appraisals for refinances or purchases, fraudulent mortgage applications, kick-back schemes involving straw buyers and funneling grant funds without disclosing who benefitted." This is exactly the type of story that gives those currently in the mortgage industry a continuing black eye . Many of us have been through...

Mar 20, 2013 10:16AM

Freddie Mac Sues 15 Banks over LIBOR Scheme

Freddie Mac has filed a complaint in federal court in Alexandria, Virginia alleging that 15 banks , including Bank of America, JP Morgan Chase, UBS, and Citigroup manipulated the London interbank offered rate (LIBOR) . This manipulation, Freddie Mac alleges, caused it to suffer substantial losses. The LIBOR is used as an index to set rates for many financial products and contracts including residential mortgages. According to Bloomberg more than $300 trillion (others say $800 trillion) of such products...

View: Front Page | Headline Viewer

Micro News

3:38 PM:	Reprices Incrementally More Possible
3:26 PM:	MBS Hit Lows Again After Bullish Hints From Bernanke
2:10 PM:	Range Containment Continues Post-FOMC
1:52 PM:	MBS Hit Lows Ahead Of FOMC, But Trend Is Sideways
9:35 AM:	Bond Markets Weaker Overnight, Consolidating At Current Levels
4:17 PM:	Positive Reprice Prospects Dimming As Prices Languish Late
3:28 PM:	Bond Market Gains Holding Ground Amid Volatility
10:50 AM:	Bond Market Hit Best Levels On Cyprus Exit Rumors

»View All Micro News

Around the Web

»View More Around the Web

Video News

	OCC Raises Bar For Banks
	Bernanke: Fed Bond Buying Costs Manageable
	Santelli's Midday Bond Report

»View More Video News

Today's Comments

	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."
	"If there woud be more of a push for loan modifications with principal writedowns for those that have jobs and want to stay in their homes we would be in..."
	"Thanks Jann, this is directly related to our business. ( the trickle effect) We are talking to investors concerned with shrinking inventory as the spree..."

»View More Comments

Today's Q&A

"How can I avoid Capital Gains tax on my 2nd home "

"How to obtain copy of real estate closing"

"Conventional w/ Foreclosure over 5 years old in miami-dade county"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.63	0.03

15YR	2.93	0.02

FHA30YR	3.34	0.02

Jumbo30YR	3.73	0.02

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	102-21	-0-14

30YR FNMA 3	105-08	-0-09

30YR FNMA 4	106-13	-0-05

30YR FNMA 4	107-18	-0-02

Treasuries

2 YR	0.2500	0.0080

3 YR	0.3803	0.0133

5 YR	0.8098	0.0328

7 YR	1.3149	0.0489

10 YR	1.9581	0.0541

30 YR	3.1983	0.0673

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	-7.11%

Mortgage Refinance	-8.01%

Mortgage Purchase	-3.87%

Building Permits	4.65%

Housing Starts	0.77%

Construction	-0.59%

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Should the Government Set Standards, Backstop the Market, or Continue to Issue Guarantees?

Glenn Setzer — Tue, 19 Mar 2013 21:09:11 GMT

Mar 19, 2013 2:54PM

DeMarco: Should Government Set Standards, Backstop the Market, or Continue to Issue Guarantees?

Edward J. DeMarco , Acting Director of the Federal Housing Finance Agency (FHFA) told lawmakers on Tuesday that the role of housing finance reform should be to promote the efficient provision of credit to finance mortgages for single-family and multifamily housing. Speaking at a hearing of the House Committee on Financial Services DeMarco said that an efficient market system for providing mortgage credit to homebuyers should have certain core characteristics : allowing innovation, providing consumer...

Mar 19, 2013 12:21PM

Establishing a New Fannie Mae in Texas? How Gfees are a Tax on Borrowers; Thoughts on Cutting Weak Producers

The combination of marketing, brand placement, and design graphics is a real art: when it works, great, but when it doesn't , well... Economists study long and hard to learn certain rules , like: "If you're going to give a number, don't give a date. If you're going to give a date, don't give a number. And if you do get it right, don't look surprised." Besides the handful of "I told you so" folks, in 2005 were large numbers of economists or analysts predicting the decline in property values we'd seen...

View: Front Page | Headline Viewer

Micro News

4:17 PM:	Positive Reprice Prospects Dimming As Prices Languish Late
3:28 PM:	Bond Market Gains Holding Ground Amid Volatility
10:50 AM:	Bond Market Hit Best Levels On Cyprus Exit Rumors
9:25 AM:	Holding Modest Gains, Waiting For Cyprus To Vote
8:38 AM:	ECON: Housing Starts Slightly Higher Than Expected
10:05 AM:	ECON: NAHB Housing Market Index Lower Than Expected
9:28 AM:	Vying for Technical Victory After Wild Overnight Trading
2:45 PM:	MBS Stretch To Higher Highs, Reprice Potential Persists

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Santelli's Midday Bond Report
	Miami Condos: The Foreign Invasion
	Santelli's Stalks Risk on the Hunt For Yield

»View More Video News

Today's Comments

	"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."
	"If there woud be more of a push for loan modifications with principal writedowns for those that have jobs and want to stay in their homes we would be in..."
	"Thanks Jann, this is directly related to our business. ( the trickle effect) We are talking to investors concerned with shrinking inventory as the spree..."

»View More Comments

Today's Q&A

"Anybody know if Wells Fargo has a penalty for breaking a lock on a new purchase of a house?"

"Is 3.375% at 2.125 pts on a single family house a good rate?"

"What is needed when you change the ownership of a house?? And where do you go?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.60	-0.02

15YR	2.91	-0.02

FHA30YR	3.32	-0.01

Jumbo30YR	3.71	-0.02

5/1ARM	3.02	-0.01

MBS Quotes

30YR FNMA 3	103-03	0-04

30YR FNMA 3	105-17	0-03

30YR FNMA 4	106-18	0-01

30YR FNMA 4	107-20	0-01

Treasuries

2 YR	0.2420	-0.0040

3 YR	0.3671	-0.0129

5 YR	0.7774	-0.0296

7 YR	1.2665	-0.0435

10 YR	1.9043	-0.0507

30 YR	3.1314	-0.0526

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Building Permits	4.65%

Housing Starts	0.77%

Construction	-0.59%

NAHB Builder	-4.35%

Mortgage Application	14.75%

Mortgage Refinance	14.77%

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Nine Attorneys General Demand DeMarco Ouster; Mortgage Rates See Biggest Drop in 3 Weeks

Glenn Setzer — Mon, 18 Mar 2013 21:11:17 GMT

Mar 18, 2013 9:26AM

Nine Attorneys General Demand DeMarco Ouster

Nine state attorneys general have sent a letter to President Obama, Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell demanding new leadership at the Federal Housing Finance Agency (FHFA). The letter, which effectively calls for Acting FHFA Director Edward J. DeMarco to be fired , was sent Friday by the group spearheaded by Massachusetts' AG Martha Coakley and New York's Eric Schneiderman. The AGs said they have spent several years grappling with the outgrowth of subprime...

Mar 18, 2013 3:10PM

Mortgage Rates See Biggest Drop in Over Three Weeks

Mortgage rates moved lower today at their fastest pace since February 25th's Italian election stalemate. Today's move is also bigger than the entire week of sideways-to-slightly-lower rates last week. That said, the first week of March (the one that included the Employment data), is sort of a dividing line in 2013's general trend toward higher rates. Everything before that Thursday is lower, everything after is higher, and today's big move brings us right back to that dividing line. That means a...

View: Front Page | Headline Viewer

Micro News

10:05 AM:	ECON: NAHB Housing Market Index Lower Than Expected
9:28 AM:	Vying for Technical Victory After Wild Overnight Trading
2:45 PM:	MBS Stretch To Higher Highs, Reprice Potential Persists
10:09 AM:	ECON: Consumer Sentiment Weaker Than Expected
9:19 AM:	ECON: Industrial Production Higher Than Expected
9:14 AM:	Quiet Overnight, Quiet Morning, But Not Without Risks
8:45 AM:	ECON: Core Consumer Prices As Expected
8:40 AM:	ECON: Empire State Manufacturing Roughly In Line With Expectations

»View All Micro News

Around the Web

»View More Around the Web

Video News

	What's Really Happening in Cyprus?
	Summers: Why I'm Worried About Cyprus
	Santelli's Midday Bond Report

»View More Video News

Today's Comments

	"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."
	"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."
	"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

»View More Comments

Today's Q&A

"If i receive a home for a gift and sell in the same year what % do i owe irs for taxes"

"Rob's column today mentioned the Agency increase eff. 5/1 when did that announcement occur?"

"As a licensed Colorado Real Estate Broker, how do I become licensed in Arkansas?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.62	-0.05

15YR	2.93	-0.04

FHA30YR	3.33	-0.04

Jumbo30YR	3.73	-0.06

5/1ARM	3.03	0.02

MBS Quotes

30YR FNMA 3	102-31	0-07

30YR FNMA 3	105-15	0-05

30YR FNMA 4	106-17	0-02

30YR FNMA 4	107-19	0-01

Treasuries

2 YR	0.2460	-0.0080

3 YR	0.3803	-0.0157

5 YR	0.8065	-0.0275

7 YR	1.3101	-0.0339

10 YR	1.9546	-0.0364

30 YR	3.1835	-0.0275

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

NAHB Builder	-4.35%

Mortgage Application	14.75%

Mortgage Refinance	14.77%

Mortgage Purchase	15.04%

Building Permits	1.76%

Housing Starts	-8.53%

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California Home Prices Benefit from Short Inventory, Sales Suffer; Mortgage Rates Level-Off

Glenn Setzer — Fri, 15 Mar 2013 20:15:51 GMT

Mar 15, 2013 4:06PM

California Home Prices Benefit from Short Inventory, Sales Suffer

California house prices have now risen on an annual basis for a full year according to the California Association of Realtors® ( C.A.R. ). The median price of an existing single family home sold for $333,800 in February, down 1 percent from the January median of $337,360 but an increase of 24.2 percent from February 2012. In addition to marking a full year of annual price increases, February was the eighth consecutive month with annual increases in double digits. Sales of existing single-family...

Mar 15, 2013 1:38PM

Mortgage Rates Continue Leveling-Off, Improving Slightly

Mortgage rates improved modestly , capping a week that's seen rates either move sideways or slightly lower every day. Today's stability and ultimately, improvements came as the result of uneventful overnight trading and a small surge in "asset allocation" trading out of stocks and into bond markets after stocks opened. General bond market strength benefits MBS, the securities that most directly affect mortgage rates. Weaker-than-expected Consumer Sentiment data continued to keep demand high for less...

View: Front Page | Headline Viewer

Micro News

2:45 PM:	MBS Stretch To Higher Highs, Reprice Potential Persists
10:09 AM:	ECON: Consumer Sentiment Weaker Than Expected
9:19 AM:	ECON: Industrial Production Higher Than Expected
9:14 AM:	Quiet Overnight, Quiet Morning, But Not Without Risks
8:45 AM:	ECON: Core Consumer Prices As Expected
8:40 AM:	ECON: Empire State Manufacturing Roughly In Line With Expectations
1:32 PM:	Weak 30yr Auction Puts Bonds Back In Their Place, Or Does It?
9:19 AM:	3 Employment Reports, 3 Directions, Bond Markets Weaker

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Too Late to Refi?, Santelli Talks to Mortgage Pro
	Lennar CEO on Housing Outlook
	Signs of More Trouble Ahead For Housing?

»View More Video News

Today's Comments

	"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."
	"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."
	"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

»View More Comments

Today's Q&A

"Rob's column today mentioned the Agency increase eff. 5/1 when did that announcement occur?"

"As a licensed Colorado Real Estate Broker, how do I become licensed in Arkansas?"

"Can you use a gift as a partial source for the down payment on an investment purchase (1-4)?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.67	-0.02

15YR	2.97	-0.01

FHA30YR	3.37	-0.03

Jumbo30YR	3.79	-0.01

5/1ARM	3.01	0.00

MBS Quotes

30YR FNMA 3	102-24	0-10

30YR FNMA 3	105-10	0-07

30YR FNMA 4	106-15	0-02

30YR FNMA 4	107-19	-0-01

Treasuries

2 YR	0.2540	-0.0120

3 YR	0.3960	-0.0210

5 YR	0.8355	-0.0435

7 YR	1.3468	-0.0522

10 YR	1.9929	-0.0441

30 YR	3.2148	-0.0272

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	14.75%

Mortgage Refinance	14.77%

Mortgage Purchase	15.04%

Building Permits	1.76%

Housing Starts	-8.53%

Construction	-0.59%

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'Jumpstart GSE Reform Act'; MBA on QM Points and Fees; Blackstone Buying $100M Homes a Week

Glenn Setzer — Thu, 14 Mar 2013 21:30:00 GMT

Mar 14, 2013 11:19AM

Senators Introduce Bill To Prohibit G-Fee Hikes Being Used For Spending

A bi-partisan group of Senators has introduced legislation that would prohibit any increase in the guarantee fees levied by Freddie Mac and Fannie Mae (the GSEs) from being used to offset other government spending. The bill would also restrict the sale of stock in the two companies currently held by the U.S. treasury from being sold without congressional approval. The bill entitled Jumpstart GSE Reform Act was introduced by four members of the Senate Banking, Housing, and Urban Affairs Committee...

Mar 14, 2013 5:23PM

Blackstone Buying $100M Single Family Homes per Week; LO Comp Plan Impact Default Rates? MBA Compliance Classes and QRM Update

Happy Pi Day (3.14) and speaking of pie (I know, a weak transition), if you think the U.S. government is knee-deep in the mortgage business check this out: the US Department of Agriculture is considering buying 400,000 tons of sugar to help provide support to sugar processors . The action is aimed at supporting falling sugar prices - whatever happened to free markets? 400K tons would allow the government to make 142 billion Hershey Kisses. Thanks to Kevin K. for passing this appraisal, legal, and...

View: Front Page | Headline Viewer

Micro News

1:32 PM:	Weak 30yr Auction Puts Bonds Back In Their Place, Or Does It?
9:19 AM:	3 Employment Reports, 3 Directions, Bond Markets Weaker
8:41 AM:	ECON: Jobless Claims Beat Consensus Handily
2:59 PM:	Positive Reprice Potential Incrementally Improves
1:17 PM:	Strong Auction Brings Bond Markets Back Toward 'Unchanged.'
11:35 AM:	MBS Bounce At Session Lows, Reprice Risk At Bay For Now
10:15 AM:	ECON: Business Inventories Rise Faster Than Expected
9:09 AM:	Bond Markets Weaker After Retail Sales Beats Estimates

»View All Micro News

Around the Web

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Video News

	Santelli's Midday Bond Report
	Santelli on Downgrades, Central Banks & Buybacks
	Lending Club CEO on Getting a Loan Without a Bank

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Today's Comments

	"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."
	"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."
	"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

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Today's Q&A

"Can you use a gift as a partial source for the down payment on an investment purchase (1-4)?"

"Who is legally responsible for paying county taxes in the year a property is sold?"

"deed versus no will"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.69	0.00

15YR	2.98	-0.01

FHA30YR	3.40	0.00

Jumbo30YR	3.80	-0.01

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	102-14	0-01

30YR FNMA 3	105-03	0-02

30YR FNMA 4	106-13	0-02

30YR FNMA 4	107-20	0-02

Treasuries

2 YR	0.2660	0.0040

3 YR	0.4170	0.0050

5 YR	0.8791	0.0001

7 YR	1.3989	-0.0001

10 YR	2.0366	0.0136

30 YR	3.2421	0.0221

Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Mortgage Application	14.75%

Mortgage Refinance	14.77%

Mortgage Purchase	15.04%

Building Permits	1.76%

Housing Starts	-8.53%

Construction	-0.59%

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