Daily Newsletter

AMI on Mortgage Servicing Settlement; 2011 Mortgage Volume Stats

Glenn Setzer — Mon, 13 Feb 2012 22:19:15 GMT

Feb 13, 2012 12:42PM

AMI Takes Position against Mortgage Servicing Settlement

In a strongly worded statement on behalf of the American Association of Mortgage Investors (AMI), Jonathan Lieberman, Managing Director of Angelo, Gordon & Company, criticized the recent settlement agreement over alleged mortgage servicing and foreclosure processing abuses. Lieberman, told the Association's bondholders in a conference call that the settlement, reached last week between five major banks and their servicing subsidiaries, the Departments of Justice and Health Education and Welfare...

Feb 13, 2012 9:47AM

Some 2011 Mortgage Volume Stats; EverBank to Buy MetLife Warehouse Lending

Sometimes, at 4AM PST, my cat disdainfully watches CNBC while I work on the finishing touches in the daily commentary. Cats spend an inordinate amount of time being disdainful, but my cat has the perfect outlook while watching, which is to remember that much of the show is slanted toward entertaining, which can be enjoyable but much of which detracts from the substantive economic news. (For one thing, they're always talking about "economic uncertainty" - heck, there is always uncertainty - it's the...

The Hidden Mortgage Tax and it's Effect on Loan Pricing

FHA Claims Against Bank of America / Countrywide Resolved

View: Front Page | Headline Viewer

Micro News

5:01 PM:	ABA: Statement on Proposed Bank Tax
2:54 PM:	Fed Releases Orders Related to Banks in Mortgage Settlement
1:52 PM:	Treasuries Turn Negative in Light Volume, MBS Follow But Outperforming
9:59 AM:	MBS Pop Higher on Meeting Delay Rumors
9:04 AM:	MBS Only Slightly Weaker as Greek Deal Waits on More Meetings
8:07 AM:	Greek Austerity Vote Lifts Euro
2:09 PM:	MBS Stable Into Afternoon. Positive Reprice Potential Increasing
12:37 PM:	Fed: Bernanke Speech on 'Housing Markets in Transition'

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Here's Why Banks Don't Like the Volcker Rule
	FHA Getting 247270B from AG & Countrywide
	Greek Rioters Burn Buildings After Austerity Vote

»View More Video News

Today's Comments

	"If B of A forecloses on Ben B.'s residence, it just shows that there may be justice, after all. Was it not Mr. Bernanke that precipitated our present..."
	"Holy Cow Frank!! I am impressed. +1"
	""the absence of house lock would have reduced the nation's unemployment rate by at most 0.10 percentage points annually"...perhaps this is..."

»View More Comments

Today's Q&A

"Seller's Appraisal Came in lower than Buyers offer!"

"Can the buyers realtor receive commission on an independent sale"

"if i have a property # how can i find the listing?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.89	0.00

15YR	3.25	-0.01

FHA30YR	3.75	0.00

Jumbo30YR	4.12	0.01

5/1ARM	3.02	0.01

MBS Quotes

30YR FNMA 3	103-15	0-02

30YR FNMA 4	105-10	0-01

30YR FNMA 4	106-20	0-00

30YR FNMA 5	108-01	0-01

Treasuries

2 YR	0.2900	0.0120

3 YR	0.3942	0.0132

5 YR	0.8379	0.0179

7 YR	1.3751	-0.0029

10 YR	1.9775	-0.0065

30 YR	3.1218	-0.0142

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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Bernanke on Housing's Role in Recovery; Mortgage Rates Battle Back

Glenn Setzer — Fri, 10 Feb 2012 20:59:57 GMT

Feb 10, 2012 3:12PM

Bernanke Speaks to Home Builders on Housing's Role in Recovery

Federal Reserve Bank Chairman Ben S. Bernanke , speaking to the National Association of Home Builders, said that the typical post-recession behavior of the housing market , resurging to help fuel reemployment and rising incomes, has not played out this time and housing remains a key impediment to a recovery. The chairman reviewed the current state of the housing market, telling the builders of a major imbalance between supply and demand with 1-2/4 million homes currently unoccupied and for sale and...

Feb 10, 2012 2:59PM

Mortgage Rates Battle Back From The Edge

With yesterday's increases, Mortgages Rates moved to the edge of their recently long and stable stay at a 3.875% Best-Execution level. While some lenders are still best-priced at 4.0%, the average Best-Execution rate moved back down into 3.875% territory today. Keep in mind that "best-execution" refers to the most ideal possible rate/fee scenario and we track this because it's the most consistent way to benchmark the movement of the broader collection of lender rate offerings. (We explain even more...

The Hidden Mortgage Tax and it's Effect on Loan Pricing

View: Front Page | Headline Viewer

Micro News

2:09 PM:	MBS Stable Into Afternoon. Positive Reprice Potential Increasing
12:37 PM:	Fed: Bernanke Speech on 'Housing Markets in Transition'
10:35 AM:	Bond Markets Doing Their Best To Hold Overnight Gains
10:04 AM:	ECON: Survey of Economists Shows Better Expected Job Growth
9:58 AM:	ECON: Consumer Sentiment Slightly Lower Than Expected
9:07 AM:	ECON: Trade Deficit In Line With Expectations. No Market Reaction
2:06 PM:	Treasuries, MBS Attempting to Turn a Corner Following 30yr Auction
11:39 AM:	MBS, Treasuries Bounce At February's Weakest Levels

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Foreclosures to Continue: Bernanke
	Rick Santelli: The Unintended Consequences
	Santelli Exchange: How Greece Is Impacting Markets

»View More Video News

Today's Comments

	""the allegations against Countrywide included claims that they had originated loans based upon inflated appraisals"...simply another piece of..."
	"Sorry, Gil. I think your Negative Equity Carryover Model is insane! HOW LONG should borrowers be haunted by being upside down on a home bought 5-10 years..."
	"1. When the system enables fraud, collusion, misrepresentation of risk, moral hazard (the separation of risk and gain) and embezzlement, then it also rewards..."

»View More Comments

Today's Q&A

" What do we do when we sign with a realtor and she refuses to show us any more houses"

"Responsibility for Second Mortgages"

"Denial Letter for a VA Loan"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.89	-0.04

15YR	3.26	-0.03

FHA30YR	3.75	0.00

Jumbo30YR	4.11	-0.03

5/1ARM	3.01	0.01

MBS Quotes

30YR FNMA 3	103-14	0-05

30YR FNMA 4	105-09	0-03

30YR FNMA 4	106-19	0-04

30YR FNMA 5	107-32	0-06

Treasuries

2 YR	0.2779	0.0119

3 YR	0.3785	-0.0055

5 YR	0.8106	-0.0424

7 YR	1.3656	-0.0564

10 YR	1.9723	-0.0637

30 YR	3.1250	-0.0570

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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"House Lock" - Negative Equity not Hurting Employment Numbers

Glenn Setzer — Thu, 09 Feb 2012 21:35:36 GMT

Feb 9, 2012 9:06AM

"House Lock" - Negative Equity not Hurting Employment Numbers

" House lock " is not a major factor when it comes to a homeowner's ability to find a job. A working paper commissioned by the Federal Reserve Bank of Boston found that, while many Americans lack mobility because their homes are "underwater" in respect to their mortgages, this is only a marginal contributing factor to continued unemployment. Migration across states and among homeowners has fallen sharply at the same time as a widespread drop in housing prices has resulted in wide-spread negative...

Feb 9, 2012 11:51AM

Mortgage Servicer Settlement Finally Reached

A final settlement between the nation's five largest mortgage servicers , two federal agencies and 49 of the states' attorneys general (AGs) was announced this morning by officials representing the AGs, the Departments of Justice (DOJ) and Housing and Urban Development (HUD). The settlement, the result of a 16 month nationwide investigation into foreclosure abuses, fraud, and unacceptable mortgage servicing practices is, as anticipated, for $25 billion dollars but there was no information released...

View: Front Page | Headline Viewer

Micro News

2:06 PM:	Treasuries, MBS Attempting to Turn a Corner Following 30yr Auction
11:39 AM:	MBS, Treasuries Bounce At February's Weakest Levels
10:05 AM:	ECON: Wholesale Inventories and Sales, Rise More Than Expected
10:01 AM:	Freddie Mac: Average Rates Steady at Record Lows
8:50 AM:	MBS Outperforming Treasuries, Both Holding Steady After Claims
8:34 AM:	ECON: Jobless Claims Fall to 358k From 373k Previously
8:32 AM:	HUD: Details of $26 Billion Settlement to be Released at 10AM
8:23 AM:	Holdout States, California and Florida, Back Into Mortgage Settlement

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Obama Calls Mortgage Settlement 'Landmark Event'
	Inside the $26B Foreclosure Deal
	Dept. of Justice Mortgage Deal Settlement

»View More Video News

Today's Comments

	"Yet another benefit for the =borrower's with the big banks. Most of these customers are also eligible for HARP programs through Fannie and Freddie..."
	"The Negative Equity Carryover Model: A Practical and Effective Solution to Our Housing Crisis and the Epidemic of Negative Home Equity Amortize losses..."
	"I have seen title insurance companies deny claims and take quite ridiculous positions, such as title insurance does not provide protection from a false..."

»View More Comments

Today's Q&A

" What do we do when we sign with a realtor and she refuses to show us any more houses"

"Responsibility for Second Mortgages"

"Denial Letter for a VA Loan"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.93	0.05

15YR	3.29	0.03

FHA30YR	3.75	0.00

Jumbo30YR	4.14	0.06

5/1ARM	3.00	-0.01

MBS Quotes

30YR FNMA 3	103-22	-0-05

30YR FNMA 4	105-14	-0-08

30YR FNMA 4	106-19	-0-07

30YR FNMA 5	107-31	-0-04

Treasuries

2 YR	0.2659	0.0079

3 YR	0.3837	0.0187

5 YR	0.8541	0.0241

7 YR	1.4236	0.0246

10 YR	2.0364	0.0544

30 YR	3.1820	0.0330

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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Ally Shopping Mortgage Unit; Missouri Goes After Processor DocX

Glenn Setzer — Wed, 08 Feb 2012 23:13:30 GMT

Feb 8, 2012 2:05PM

Ally said to be Shopping Mortgage Unit

One of the financial institutions that are party to the reported settlement agreement with the attorneys general of the majority of the states is reportedly on the auction block. According to Bloomberg News, Ally Financial is talking with private equity firms about selling its mortgage unit, Residential Capital LCC , through a pre-package bankruptcy. Any sale of the company would be complicated by its recent financial history. The company was founded as General Motors Acceptance Corporation (GMAC...

Feb 8, 2012 11:59AM

Missouri Goes After Processor DocX; Wells Now #1 Servicer; Rural Streamlines

What, exactly, qualifies a person as "rich"? It depends who you are - here in the States the wealth of the top 1% is about 225 times greater than that of the typical family, compared to 125 times in 1962, and the cumulative wealth of the Forbes 400 was 246660.54 trillion, equal to worth of the bottom half of American families . Household net worth has been falling, and a recent Gallup poll states that the median income to be considered "rich" is $150,000 a year, up from the $120,000 that qualified a...

View: Front Page | Headline Viewer

Micro News

1:28 PM:	Limited Reaction to Good-But-Not-Great 10yr Auction
12:54 PM:	New York Fed Sells $6.2 Billion in Face Amount of Maiden Lane II LLC Assets
11:28 AM:	MBS At Highs After ECB Says Greek Restructuring Participation Undecided
9:46 AM:	Bond Markets Bounce Back To Breakeven Levels After Overnight Weakness
8:30 AM:	MBA: Refinance Activity Increases as Rates Hit Survey Lows
3:19 PM:	ECON: Consumer Credit Expands More Than Expected
3:19 PM:	Subcommittee Approves Bills Improving Fiscal Health of FHA, Affordable Housing Programs
1:34 PM:	3 Year Auction Moves The Whole Stack. Greece Piles On. Negative Reprices

»View All Micro News

Around the Web

»View More Around the Web

Video News

	90 Seconds with Art Cashin: Can Draghi Help Greece?
	Treasury Yields Indicating Risk Appetite?
	NY Fed Sells Maiden Lane II Assets

»View More Video News

Today's Comments

	"Why is there no debate about the failure of the residential real estate valuing process? We continue to analyze a 3-4 month period without a historical..."
	"I am seeing all the down to 3.25% on rate sheets for the 30/30 fixed. The points are high and spreads are wide, as you said, but it appears to be moving..."
	"Of course the underwater loans will be shifted from the banks' balance sheets to the taxpayer via FHA. The taxpayer is the unsuspecting patsy in the..."

»View More Comments

Today's Q&A

"Responsibility for Second Mortgages"

"Denial Letter for a VA Loan"

"What to do with my mortgage"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.88	-0.01

15YR	3.26	-0.01

FHA30YR	3.75	0.00

Jumbo30YR	4.08	-0.01

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	103-27	0-03

30YR FNMA 4	105-21	0-02

30YR FNMA 4	106-26	0-02

30YR FNMA 5	108-02	0-02

Treasuries

2 YR	0.2579	0.0079

3 YR	0.3653	0.0213

5 YR	0.8300	0.0160

7 YR	1.3986	0.0076

10 YR	1.9822	0.0052

30 YR	3.1492	0.0002

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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House Committee Acts to Protect FHA Fund; Rates Move Higher

Glenn Setzer — Tue, 07 Feb 2012 21:51:05 GMT

Feb 7, 2012 4:11PM

House Committee Acts on Bill to Protect FHA Fund

A sub-committee of the House Financial Services committee today approved the FHA Emergency Solvency Act which is intended to shore up the finances of the Federal Housing Administration (FHA). The legislation strengthens FHA's Mortgage Insurance Fund by establishing minimum annual premiums for mortgage insurance; barring unscrupulous lenders from participating in the program, improving the FHA's internal financial controls, transparency, and disclosure requirements, and requires lenders who commit...

Feb 7, 2012 3:47PM

Mortgage Rates Slightly Higher as Greece, Auctions Weigh on Markets

Although the recently confirmed 3.875% Best-Execution level remains intact for 30yr fixed, conventional loans, Mortgages Rates moved slightly higher today in terms of the costs required to obtain those rates. Weakness in Treasuries today was more pronounced than MBS, the "mortgage-backed-securities most directly responsible for determining mortgage rates. (learn more about how we calculate Best-Execution in THIS POST ). Initially driving today's market movements was news that political leaders would...

MBS Relative Performance and Bond Duration - An Intro

View: Front Page | Headline Viewer

Micro News

3:19 PM:	ECON: Consumer Credit Expands More Than Expected
3:19 PM:	Subcommittee Approves Bills Improving Fiscal Health of FHA, Affordable Housing Programs
1:34 PM:	3 Year Auction Moves The Whole Stack. Greece Piles On. Negative Reprices
10:31 AM:	Negative Reprice Risk Increasing as MBS Hit Lows
10:17 AM:	Job Openings Rate Rises in December - BLS Survey
9:37 AM:	Greek Government Finalizing Agreement on Bailout
9:20 AM:	Bond Markets Weaker After Greece Says Drafting Bailout Agreement
2:36 PM:	MBS Gains Hold. Additional Positive Reprices Reported

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Bernanke Testimony to Senate Panel
	Santelli: The Fed's Transparency Efforts
	California, N.Y. Among Mortgage Deal Holdouts

»View More Video News

Today's Comments

	"Why is there no debate about the failure of the residential real estate valuing process? We continue to analyze a 3-4 month period without a historical..."
	"I am seeing all the down to 3.25% on rate sheets for the 30/30 fixed. The points are high and spreads are wide, as you said, but it appears to be moving..."
	"Of course the underwater loans will be shifted from the banks' balance sheets to the taxpayer via FHA. The taxpayer is the unsuspecting patsy in the..."

»View More Comments

Today's Q&A

"FHA streamline Florida question"

"I have a felony for possession of a firearm can I still obtain a real estate lisence"

"Is This prepayment penalty legal?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.89	0.02

15YR	3.27	0.02

FHA30YR	3.75	0.00

Jumbo30YR	4.09	0.02

5/1ARM	3.02	0.01

MBS Quotes

30YR FNMA 3	103-24	-0-03

30YR FNMA 4	105-19	-0-04

30YR FNMA 4	106-23	-0-04

30YR FNMA 5	108-00	-0-04

Treasuries

2 YR	0.2500	0.0160

3 YR	0.3437	0.0297

5 YR	0.8140	0.0590

7 YR	1.3914	0.0754

10 YR	1.9769	0.0759

30 YR	3.1492	0.0562

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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European Headlines Help Mortgage Rates; January Housing Scorecard

Glenn Setzer — Mon, 06 Feb 2012 21:46:29 GMT

Feb 6, 2012 3:34PM

European Headlines Help Mortgage Rates Bounce Back

Following Friday's employment data, Mortgages Rates moved quickly higher. In most cases, the changes were seen not in the quoted interest rates themselves, but rather in the closing costs required to obtain those rates. A small number of lenders' Best-Execution rates rose to 4.0%, but a majority stayed at 3.875%. (learn more about how we calculate Best-Execution in THIS POST ). For a given interest rate, there are a range of costs at which it could still be a best-execution candidate. Whereas Friday...

Feb 6, 2012 4:41PM

January Housing Scorecard Released by HUD, Treasury

The Departments of Housing and Urban Development (HUD) and Treasury issued the administration's January Housing Scorecard on Monday. The report is essentially a summary of data on housing and housing finance released by public and private sources over the previous month and/or quarter. Most of the data such as new and existing home sales, permits and starts, mortgage originations, and various house price evaluations have been previously covered by MND. The scorecard incorporates by reference the...

View: Front Page | Headline Viewer

Micro News

2:36 PM:	MBS Gains Hold. Additional Positive Reprices Reported
12:40 PM:	MBS Slowly and Steadily Winning The Race
10:18 AM:	NAHB: List of Improving Housing Markets Expands to Nearly 100
9:37 AM:	MBA: 2011 Q4 Commercial/Multifamily Mortgage Originations Up 13 Percent from 2010 Q4
9:25 AM:	MBS, Treasuries Flat All Morning in Absence of Data. Waiting on Greece
8:51 AM:	Merkel Presses Greece as Another Bailout Deadline Slips
1:54 PM:	NY Files Lawsuit Against Big Banks for Deceptive and Fraudulent Use of MERS
10:20 AM:	MBS Struggle to Hold Lows Following 2nd Round of Econ Data

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Super Bowl Hurts Employee Productivity?
	90 Seconds with Art Cashin: I Worry When Politicians Get 'Comfortable with Defaults'
	Slower Office Construction Could Mean Higher Rents

»View More Video News

Today's Comments

	"Why is there no debate about the failure of the residential real estate valuing process? We continue to analyze a 3-4 month period without a historical..."
	"I am seeing all the down to 3.25% on rate sheets for the 30/30 fixed. The points are high and spreads are wide, as you said, but it appears to be moving..."
	"Of course the underwater loans will be shifted from the banks' balance sheets to the taxpayer via FHA. The taxpayer is the unsuspecting patsy in the..."

»View More Comments

Today's Q&A

"Is This prepayment penalty legal?"

"life lease of property "

"Should I start an LLC before I buy an investment property?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.87	-0.02

15YR	3.25	-0.03

FHA30YR	3.75	0.00

Jumbo30YR	4.07	-0.04

5/1ARM	3.01	0.01

MBS Quotes

30YR FNMA 3	103-27	0-04

30YR FNMA 4	105-22	0-06

30YR FNMA 4	106-27	0-02

30YR FNMA 5	108-02	0-04

Treasuries

2 YR	0.2342	-0.0038

3 YR	0.3142	-0.0108

5 YR	0.7549	-0.0141

7 YR	1.3158	-0.0192

10 YR	1.9031	-0.0209

30 YR	3.0942	-0.0288

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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MERS, Banks Sued by New York State; MERSCORP Responds

Glenn Setzer — Fri, 03 Feb 2012 22:01:08 GMT

Feb 3, 2012 3:44PM

MERS, Banks Sued by New York State; MERSCORP Responds

Three major banks and Virginia-based MERSCORP, Inc. and its subsidiary Mortgage Electronic Registrations Systems ( MERS ) were sued Friday by the state of New York. The suit, filed by the state's Attorney General Eric T. Schneiderman , charges that the creation and use of a privately national electronic registration system, MERS, "has resulted in a wide range of deceptive and fraudulent foreclosure filings in New York state and federal courts, harming homeowners and undermining the integrity of the...

Feb 3, 2012 3:01PM

Mortgage Rates Higher Following Employment Report

The monthly Employment Situation Report was released at 8:30am this morning, with much better-than-expected results. Stocks rallied sharply and most every interest rate in fixed-income markets moved higher. The economic optimism created by this sort of data tends to increase demand for riskier investments like stocks and lower demand for things like fixed-income notes and bonds. MBS (the "mortgage backed securities" that most directly govern mortgage rates) fall into this fixed-income sector, and...

Calculating Current Coupon in a Record Low Rate Environment

View: Front Page | Headline Viewer

Micro News

1:54 PM:	NY Files Lawsuit Against Big Banks for Deceptive and Fraudulent Use of MERS
10:20 AM:	MBS Struggle to Hold Lows Following 2nd Round of Econ Data
10:10 AM:	ECON: Service Sector Growing Faster Than Expected - ISM
10:06 AM:	ECON: Factory Orders Rise, but Pace Slower Than Expected
8:54 AM:	First Signs That Bond Markets Have Stopped the Bleeding
8:33 AM:	ECON: Non-Farm Payrolls Crush Expectations. Positive Revisions
8:30 AM:	Major Upside Surprise for NFP. Bonds On The Retreat
8:21 AM:	Overnight Trading Suggests Markets Waiting on NFP

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Did Bernanke Get it Wrong?
	Banks Sued Over Mortgage Registry
	Santelli: Here's What's Wrong With the Jobs Number

»View More Video News

Today's Comments

	"Why is there no debate about the failure of the residential real estate valuing process? We continue to analyze a 3-4 month period without a historical..."
	"I am seeing all the down to 3.25% on rate sheets for the 30/30 fixed. The points are high and spreads are wide, as you said, but it appears to be moving..."
	"Of course the underwater loans will be shifted from the banks' balance sheets to the taxpayer via FHA. The taxpayer is the unsuspecting patsy in the..."

»View More Comments

Today's Q&A

"Does anyone do a no income qualifing rate reduction refinance anymore?"

"The house is winterized; does the water & gas have to be turned back on?"

"Florida investment Condo Purchase Financing"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.89	0.07

15YR	3.28	0.05

FHA30YR	3.75	0.00

Jumbo30YR	4.11	0.05

5/1ARM	3.00	-0.01

MBS Quotes

30YR FNMA 3	103-23	-0-11

30YR FNMA 4	105-19	-0-07

30YR FNMA 4	106-25	-0-05

30YR FNMA 5	108-00	-0-02

Treasuries

2 YR	0.2342	0.0082

3 YR	0.3222	0.0212

5 YR	0.7709	0.0599

7 YR	1.3346	0.0866

10 YR	1.9259	0.1029

30 YR	3.1224	0.1154

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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MBS Rallying At All-Time Highs; Housing Assistance 2012; Citi Exit

Glenn Setzer — Thu, 02 Feb 2012 22:27:34 GMT

Feb 2, 2012 12:50PM

MBS Rallying At All-Time Highs, Time To Look At FNMA 3.0 Coupons?

We've posed this question almost a month ago ( read more... ) and the answer is fairly similar this time around. That said, MBS prices are higher and more time has passed with the broader rates market trading in a reasonably stable range. These factors (especially the "time passing" part), if they continue, mean that we should indeed expect 3.0 production to continue ramping up. Fannie 3.5's have been by far and away, the dominant production coupon for conventional loans for several months. This...

Feb 2, 2012 10:19AM

Housing Assistance 2012: Another Herculean Task for the FHA

Beginning the 37th month of his presidency, the Obama Administration today announced a laundry list of new programs to help struggling homeowners, crack down on abusive lending practices, make mortgage documents easier to read, convert REO to rental, and other assorted initiatives. Some require Congressional approval; others are a work in progress, and a couple can begin quickly. At the heart of the announcement is a broad new refinance program with the venerable FHA stepping in (once again) to help...

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Micro News

1:55 PM:	Google Mortgage Rate Search Discontinued
1:26 PM:	DataQuick: Las Vegas Home Sales - December 2011
1:02 PM:	Freddie Mac: 85% of Refi's Maintain or Reduce Debt in Q4, 26-Year High
11:18 AM:	MBS See Transcendental Levity on Bernanke Comments
10:08 AM:	Bernanke Testimony on Economic Outlook and the Federal Budget Situation
10:07 AM:	Highlights From Bernanke's Prepared Testimony to Congress
10:05 AM:	Freddie Mac Mortgage Rates Back at Record Lows
9:54 AM:	Fannie Mae Finances $24 Billion Multifamily in 2011

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Rep. Cambell: Housing & Financial Restructuring
	Rep. Paul Ryan Grills Bernanke on Unemployment
	Rep. Ryan Questions Bernanke on Jobs & Inflation

»View More Video News

Today's Comments

	"Reducing the FHA monthly mortgtage insurance would asssit greatly, as well. Homeowners could afford higher purchase prices if the government asssited to..."
	"You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..."
	"And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..."

»View More Comments

Today's Q&A

"The house is winterized; does the water & gas have to be turned back on?"

"Florida investment Condo Purchase Financing"

"Contract Financing Contingency and Loan Amount"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.82	-0.01

15YR	3.23	-0.01

FHA30YR	3.75	0.00

Jumbo30YR	4.06	-0.02

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	104-02	0-03

30YR FNMA 4	105-26	0-03

30YR FNMA 4	106-30	0-01

30YR FNMA 5	108-02	0-01

Treasuries

2 YR	0.2264	0.0004

3 YR	0.3006	-0.0004

5 YR	0.7106	-0.0094

7 YR	1.2477	-0.0183

10 YR	1.8230	-0.0070

30 YR	3.0068	0.0108

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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State of the Mortgage Industry; White House Housing Plans

Glenn Setzer — Wed, 01 Feb 2012 21:34:05 GMT

Feb 1, 2012 3:53PM

The State of the Mortgage Industry According to MBA

The Mortgage Bankers Association ( MBA ) provided its annual assessment of The State of the Mortgage Industry in a press conference Wednesday afternoon. Michael Young, MBA Chairman said that the states that have been hardest hit by the housing crisis are and will continue to deal with the aftermath but there are signs that in much of the nation 2012 will bring a recovering market. One bright spot , Young said, is that the turmoil in the single family market has actually helped the multi-family sector;...

Feb 1, 2012 4:22PM

White House Details Housing Plans

Saying that the housing crisis struck right at the heart of what it means to be middle class, President Barack Obama has begun to flesh out the housing-related proposals he made in his State of the Union speech last Tuesday. He spoke this morning at Falls Church, Virginia about his housing plans, some pieces of which have already been put into effect by the Departments of Justice (DOJ), Treasury, and Housing and Urban Development (HUD) in the eight days since they were first announced. The President...

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Micro News

1:29 PM:	Positive Reprices Not Out of The Question. MBS Test New Highs
12:24 PM:	Oregon Joins Multi-State Agreement with Major Financial Insitutions
11:59 AM:	MBA Reacts to President Obama's Housing Announcement
11:42 AM:	NAR: Commercial Markets Stabilize in Fourth Quarter 2011
10:24 AM:	Bond Markets Continue Weakening After Latest Data. MBS Outperform
10:08 AM:	ECON: Construction Spending Rises 1.5 pct vs 0.6 Consensus
10:03 AM:	ECON: ISM Manufacturing Misses Consensus, But Continues to Rise
9:31 AM:	Obama Expected to Discuss Housing at 11am

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Inside the Mind of Bill Gross
	Money Flows Into Treasuries
	Santelli: Obama's Blueprint For America Built to Last

»View More Video News

Today's Comments

	"Reducing the FHA monthly mortgtage insurance would asssit greatly, as well. Homeowners could afford higher purchase prices if the government asssited to..."
	"You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..."
	"And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..."

»View More Comments

Today's Q&A

"Florida investment Condo Purchase Financing"

"Contract Financing Contingency and Loan Amount"

"Should I pay down my mortgage when my property has depreciated in value?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.83	-0.01

15YR	3.24	0.00

FHA30YR	3.75	0.00

Jumbo30YR	4.08	0.01

5/1ARM	3.02	0.00

MBS Quotes

30YR FNMA 3	103-31	0-03

30YR FNMA 4	105-23	0-01

30YR FNMA 4	106-29	0-03

30YR FNMA 5	108-01	0-02

Treasuries

2 YR	0.2264	0.0074

3 YR	0.3006	0.0056

5 YR	0.7203	0.0143

7 YR	1.2652	0.0242

10 YR	1.8282	0.0332

30 YR	2.9927	0.0547

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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Case-Shiller Erosion; Freddie's PR Nightmare

Glenn Setzer — Tue, 31 Jan 2012 23:01:04 GMT

Jan 31, 2012 2:58PM

Case-Shiller Reports Continued Erosion in Home Prices

Home prices continued to fall in November according to the S&P/Case-Shiller Home Price Indices released this morning. Both the 10-City and the 20-City Indices were down 1.3 percent in November compared to the previous month and for the second month in a row19 of the cities also saw their prices inch lower. Phoenix was the only one of the 20 to post a gain in November. The year-over-year price declines in November widened from those in October. The 10-City and 20-City Composites were down 3.6...

Jan 31, 2012 9:52AM

Freddie's PR Nightmare; Servicing's Negative Earnings Impact; More on MetLife's Fade

Do you think it takes a long time to have a loan purchased by Wells or MetLife? Try running the world's longest lab experiment , begun in the 1920's. Fortunately finding a job in mortgage banking doesn't take eighty years. In Toms River, New Jersey, Glendenning Mortgage currently has an opening for a DE Underwriter to join its team. Business has been too good for Glendenning, which has found itself outsourcing a portion of its underwriting needs - it would like to bring that back in-house entirely...

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Micro News

4:10 PM:	Fannie Mae December 2011 Volume Summary
2:33 PM:	Agencies Issue Guidance on Junior Lien Loan Loss Allowances
12:27 PM:	Potential Price Improvements as MBS Hit Highs
11:27 AM:	ECON: Consumer Confidence Much Lower Than Expected
9:53 AM:	ECON: Chicago PMI Misses Consensus. Index Lowest Since August
9:03 AM:	S&P/Case-Shiller: Home Prices Drop for 3rd Straight Month
8:55 AM:	MBS Inch Back Into Positive Territory, Uninterested in Econ Data
8:39 AM:	ECON: Employment Cost Index In Line With Expectations

»View All Micro News

Around the Web

»View More Around the Web

Video News

	U.S. Housing Market `Still a Rocky Road', Case Says
	90 Seconds with Art Cashin: Markets Lose Momentum
	Home Prices Fall Third Straight Month

»View More Video News

Today's Comments

	"Reducing the FHA monthly mortgtage insurance would asssit greatly, as well. Homeowners could afford higher purchase prices if the government asssited to..."
	"You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..."
	"And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..."

»View More Comments

Today's Q&A

"Should I pay down my mortgage when my property has depreciated in value?"

"Foreclose during bankruptcy or after?"

"Can a commercial property be sold to a person who is not a US citizen if he pays cash!"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.84	0.03

15YR	3.24	0.01

FHA30YR	3.75	0.00

Jumbo30YR	4.07	0.03

5/1ARM	3.02	-0.02

MBS Quotes

30YR FNMA 3	103-28	0-06

30YR FNMA 4	105-22	0-03

30YR FNMA 4	106-27	0-01

30YR FNMA 5	107-31	-0-02

Treasuries

2 YR	0.2186	0.0036

3 YR	0.2952	-0.0078

5 YR	0.7061	-0.0289

7 YR	1.2406	-0.0374

10 YR	1.7953	-0.0507

30 YR	2.9382	-0.0588

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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Mortgage Rates Hit New All-Time Lows!

Glenn Setzer — Mon, 30 Jan 2012 22:53:49 GMT

Jan 30, 2012 2:15PM

Mortgage Rates Hit New All-Time Lows!

It's happened before and it happened again today: Mortgages Rates hit new all time lows today. Please note, that the actual interest rate you would have been quoted last week and this week may not have changed, but based on raw data from more than 20 leading lenders as well as feedback from the MBS Live community, the average Best-Execution rate, before rounding to the nearest eighth, hit its lowest level on record, 3.81%. Although 3.81% is closer to 3.75% than 3.875%, we won't declare 3.75% to be...

Jan 30, 2012 1:19PM

HAMP Changes: Treasury Increases Incentives for Principal Reduction

The Federal Housing Finance Agency announced on Friday that it was extending the Home Affordable Modification Program ( HAMP ) for another year - through December 13, 2013 - and that Freddie Mac and Fannie Mae would continue as financial agents for Treasury in implementing the changes it then announced. The press release also said the two GSEs would "extend their use of HAMP Tier 1 as the first modification option through 2013" and that they were already in alignment with HAMP Tier 2 and no further...

View: Front Page | Headline Viewer

Micro News

5:19 PM:	FHFA Statement on Freddie Mac Refinance Story
3:41 PM:	After "Pin Drop Quiet" Day, MBS Weaken Slightly. Infinitesimal Reprice Risk
2:23 PM:	NY Fed Research: House Price Booms, Current Account Deficits, and Low Interest Rates
11:47 AM:	Eerily Stable, Given Price Levels
8:54 AM:	MBS Continue at All-Time Highs After Consumer Spending Report
8:41 AM:	ECON: Consumers Earned More, Spent Less in December
2:28 PM:	MBS Hit Day's Highs, Underperforming TSYs in Low Volume
10:15 AM:	Fed's Dovish Dudley Says Recovery to Slow in 2012

»View All Micro News

Around the Web

»View More Around the Web

Video News

	More Money for GSEs
	Philly Fed President Plosser on U.S. Recovery
	Freddie Mac Bets Against Homeowners

»View More Video News

Today's Comments

	"You could also allow borrowers with more than 4 financed properties to cash out existing free & clear properties. Most of these investors have over..."
	"And Ray J--I know you were joking, but the truth is, the government will intervene if as an industry we continue to just ridicule their efforts or just..."
	"Ray J--if that is true then how can we truly call housing an investment for buyers? Vacant neighbhorhoods, rational defaults, credit histories destroyed..."

»View More Comments

Today's Q&A

"Should I pay down my mortgage when my property has depreciated in value?"

"Foreclose during bankruptcy or after?"

"Can a commercial property be sold to a person who is not a US citizen if he pays cash!"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.81	-0.02

15YR	3.23	-0.02

FHA30YR	3.75	0.00

Jumbo30YR	4.04	-0.02

5/1ARM	3.04	-0.02

MBS Quotes

30YR FNMA 3	103-23	0-01

30YR FNMA 4	105-19	0-01

30YR FNMA 4	106-26	0-01

30YR FNMA 5	108-00	0-02

Treasuries

2 YR	0.2147	0.0000

3 YR	0.3031	-0.0029

5 YR	0.7347	-0.0143

7 YR	1.2781	-0.0279

10 YR	1.8457	-0.0453

30 YR	2.9974	-0.0596

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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Mortgage Rates Continue To Solidify Bounce Back To Lows

Glenn Setzer — Thu, 26 Jan 2012 22:17:13 GMT

Jan 26, 2012 3:17PM

Mortgage Rates Continue To Solidify Bounce Back To Lows

Mortgages Rates over the past two days have done much to make ground lost leading up to Yesterday's FOMC Announcement. After further improvements today, rates further solidified their reentry into 3.875% 30yr Fixed Best Execution levels. (for detail on what that means, READ THIS POST from a few days ago). The rounded average of various lenders' Best-Ex rates had moved up to 4.0%, and more than a few lenders are still well-priced there, but a majority are once again offering 3.875% with attractive...

Jan 26, 2012 9:24AM

Housing Industry Reacts to State of the Union

Housing featured prominently in President Obama's State of the Union speech on Tuesday night. The President made two specific proposals, one to deal with the ghosts of housing past, the other to provide expanded credit to homeowners. In contrast to the settlement with banks that Obama was widely rumored to announce at the State of the Union, he instead directed Attorney General Eric Holder to create a new office on Mortgage Origination and Securitization Abuses . The President said, "The American...

View: Front Page | Headline Viewer

Micro News

1:37 PM:	MBS, Treasuries Settling -In Around Best Levels After 7 Yr Auction
12:44 PM:	7yr Auction Preview
12:32 PM:	MBS Pushing New Highs Ahead of Auction. Positive Reprices Reported
10:18 AM:	NAHB: Remodeling Market Index Rises to Five-Year High
10:09 AM:	Freddie Mac Reports Average Mortgage Rates Higher
10:07 AM:	ECON: New Home Sales Decline. Prices Lowest Since Oct 2010
10:07 AM:	ECON: New Home Sales Decline. Prices Lowest Since Oct 2010
8:54 AM:	Moderate Selling Pressure Short-Lived Following Data

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Santelli: Data Heats Up Treasuries After Chill From Fed
	New Home Sales Drop 2.2%
	Banks Face Lack of Regulatory Clarity, Frenkel Says

»View More Video News

Today's Comments

	"my thoughts, imagine what this large pool of rentals will do the the rental markets. will it be cheaper to rent than to buy? slowing down the 1st time..."
	"I like it Ray--call it the "Reinvest in American Neighborhoods" fund--should be relatively easy to show that working people would be buying in..."
	"OK Brian-YOU OBJECT. I just can't find the part where you suggested the alternative? How about: Mr. President: Here is our cohesive industry wide proposal..."

»View More Comments

Today's Q&A

"Owner just rented a short sale to a family how can the owners rent it so close to us closing?"

"how do I get cash for keys from my lender wells fargo?"

"How can you refinance your house with no fees? Or what fees do you have to pay no matter what?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.86	-0.02

15YR	3.29	-0.02

FHA30YR	3.75	0.00

Jumbo30YR	4.09	-0.03

5/1ARM	3.05	0.04

MBS Quotes

30YR FNMA 3	103-16	0-15

30YR FNMA 4	105-15	0-10

30YR FNMA 4	106-25	0-08

30YR FNMA 5	108-00	0-07

Treasuries

2 YR	0.2147	-0.0123

3 YR	0.3082	-0.0158

5 YR	0.7760	-0.0230

7 YR	1.3276	-0.0684

10 YR	1.9401	-0.0619

30 YR	3.0942	-0.0578

Recent Housing Data

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

New Home Sales	-2.23%

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

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Mortgage Rates Return To Historic Lows Following FOMC Announcement

Glenn Setzer — Wed, 25 Jan 2012 22:47:31 GMT

Jan 25, 2012 4:02PM

Mortgage Rates Return To Historic Lows Following FOMC Announcement

Mortgages Rates spent 2 days at 4.0% in terms of rounded average "Best-Execution" rates (for detail on what that means, READ THIS POST from a few days ago). Today, that rounded average has returned to 3.875%. Although the underlying average isn't as low as it's ever been (3.88 vs 3.82), lenders tend to price loans in 1/8th (.125%) increments, meaning that 3.875% has been the lowest sustainable best-execution rate. In short, we're back to the promised land. The improvements came on the heels of today...

Jan 25, 2012 2:45PM

MBS Get Big Boost From FOMC Verbiage Shift

Let's cut right to the chase... Although the 5yr auction earlier today was strong and although there were several paragraphs-worth of content in today's FOMC statement, today has been almost exclusively about one thing: a shift in verbiage of the FOMC statement from suggesting low fed funds rates through "mid-2013" to today's "late 2014." That was the big market mover at 12:30 that kicked off a big rally for MBS and Treasuries. The rally was a bit more aggressive than the "relief rally" that markets...

View: Front Page | Headline Viewer

Micro News

3:29 PM:	Reprices For The Worse AND Better Reported
2:45 PM:	MBS Hold Ground After Pulling Back From Highs
2:21 PM:	MBS Back Down After Forecasts. Positive Reprices Less Likely.
2:15 PM:	FRB Releases Economic Projections from the January 24-25 FOMC Meeting
2:09 PM:	Breakdown of Fed Voters' Forecast For Rate-Hike Timing
12:48 PM:	Big Bond-Market/MBS Rally Following FOMC Announcement
11:44 AM:	Aggressive Lenders Might Reprice Better Following Strong Auction
11:26 AM:	5yr Auction Preview

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Fed Chief Bernanke on Low Rate Policy
	Reacting to Ben Bernanke's Speech
	BofA's Moynihan on Capital, Housing

»View More Video News

Today's Comments

	"my thoughts, imagine what this large pool of rentals will do the the rental markets. will it be cheaper to rent than to buy? slowing down the 1st time..."
	"I like it Ray--call it the "Reinvest in American Neighborhoods" fund--should be relatively easy to show that working people would be buying in..."
	"OK Brian-YOU OBJECT. I just can't find the part where you suggested the alternative? How about: Mr. President: Here is our cohesive industry wide proposal..."

»View More Comments

Today's Q&A

"How can you refinance your house with no fees? Or what fees do you have to pay no matter what?"

"In My Best Interest"

"I have a collection on my credit after bankrupcy and i want to buy a house"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.88	-0.09

15YR	3.31	-0.06

FHA30YR	3.75	0.00

Jumbo30YR	4.12	-0.10

5/1ARM	3.01	0.00

MBS Quotes

30YR FNMA 3	103-02	0-13

30YR FNMA 4	105-06	0-09

30YR FNMA 4	106-17	0-05

30YR FNMA 5	107-25	0-02

Treasuries

2 YR	0.2265	-0.0125

3 YR	0.3241	-0.0529

5 YR	0.7989	-0.1001

7 YR	1.3963	-0.0837

10 YR	2.0016	-0.0614

30 YR	3.1525	0.0035

Recent Housing Data

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

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

Mortgage Refinance	26.40%

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Mr. President, it's Time for a National Housing Policy

Glenn Setzer — Tue, 24 Jan 2012 22:42:05 GMT

Jan 24, 2012 10:52AM

Mr. President, it's Time for a National Housing Policy

Please Mr. President, enough with the one-off responses, it's time for a National Housing Policy. The only thing more predictable than the fact that the President will deliver to Congress a State of the Union Address each year is the speculation that precedes it regarding what “Big” announcements the President’s speech will contain. This year is no different, and a great deal of current speculation surrounds the topic of housing and whether the President’s speech will include...

Jan 24, 2012 2:34PM

Mortgage Rates Sideways Ahead of Wednesdays Important Events

Mortgages Rates are steady to slightly improved today after rising for the first time in a month yesterday. Although rates change slightly every day, those changes are usually small enough as to only effect the closing costs associated with a particular rate. Because of this, we track "Best-Execution" as the actual interest rate benchmark, and we talked about it in significant detail yesterday ( READ MORE ). So although we are able to report that the rate environment is slightly improved today, those...

View: Front Page | Headline Viewer

Micro News

5:36 PM:	DataQuick: California Foreclosure Activity Drops
1:30 PM:	Acting Comptroller Talks About Securitization and Derivatives at the American Securitization Forum
1:21 PM:	MBS Fight Off Bigger Losses, Hold Support Into Afternoon
11:37 AM:	Negative Reprice Risk Increasing as MBS Hit Lows
8:53 AM:	No Major Reaction to Greek Bond-Swap Hang-Up. Bonds Modestly Stronger Overnight.
1:01 PM:	MBS Near Highs of The Day, Positive Reprices Reported
10:01 AM:	Ourperformace Notwithstanding, MBS Still Getting Hit Pretty Hard
8:47 AM:	MBS Outperform as ESM/EFSF News Prompts Bond Market Weakness

»View All Micro News

Around the Web

»View More Around the Web

Video News

	Financial Services Committee Members: Housing, Economy & Taxes
	CNBC Fed Survey: Great Rate Debate
	AG's Meeting on Settlement

»View More Video News

Today's Comments

	"A coherent national housing policy should start with capping, then withdrawing federal subsidies for homeownership, i.e. the mortgage interest tax deduction..."
	"Frank are you recommending principle reduction on these loans? So should the investor then add on to the principle balance if the underlying asset appreciates..."
	"So the strategy continues to be to protect at all costs the value of the investor debt instrument from loss, while the consumer gets no relief from the..."

»View More Comments

Today's Q&A

"In My Best Interest"

"I have a collection on my credit after bankrupcy and i want to buy a house"

"Fha loan forclosed 12/23/2011"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.97	-0.01

15YR	3.37	-0.02

FHA30YR	3.75	0.00

Jumbo30YR	4.22	-0.03

5/1ARM	3.01	0.00

MBS Quotes

30YR FNMA 3	102-21	0-01

30YR FNMA 4	104-29	0-01

30YR FNMA 4	106-13	-0-02

30YR FNMA 5	107-23	-0-02

Treasuries

2 YR	0.2386	-0.0044

3 YR	0.3770	-0.0030

5 YR	0.8993	-0.0097

7 YR	1.4797	-0.0043

10 YR	2.0635	0.0055

30 YR	3.1492	0.0142

Recent Housing Data

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

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

Mortgage Refinance	26.40%

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DeMarco Outlines Justification against GSE Principal Reduction

Glenn Setzer — Mon, 23 Jan 2012 22:16:09 GMT

Jan 23, 2012 5:12PM

DeMarco Outlines Justification against GSE Principal Reduction

Acting Federal Housing Finance Agency (FHFA) Director Edward J. DeMarco responded Friday to a request from 16 House Democrats to explain the statutory authority that DeMarco has claimed prohibits FHFA from offering principal reduction as part of loan modifications on loans it owns or guarantees. The request was made last November after DeMarco told the House Committee on Oversight and Government Reform that his agency had concluded that "the use of principal reduction within the context of a loan...

Jan 23, 2012 3:12PM

Best-Execution Mortgage Rates Rise After Extended Period of Stability

For the first time in over a month, the Best-Execution rate for 30yr fixed mortgages rose from a rounded average of 3.875% to 4.00% today. The underlying borrowing costs associated with 3.875% didn't rise by a significantly painful amount, but the small increases across the board, combined with one huge move by a huge lender, was enough to bring the average rate closer to 4.0% than 3.875%. You may well wonder what the heck this all means. So we'll go into more detail tonight for enquiring minds....

View: Front Page | Headline Viewer

Micro News

1:01 PM:	MBS Near Highs of The Day, Positive Reprices Reported
10:01 AM:	Ourperformace Notwithstanding, MBS Still Getting Hit Pretty Hard
8:47 AM:	MBS Outperform as ESM/EFSF News Prompts Bond Market Weakness
2:53 PM:	Fed Releases Templates for Reporting FOMC Participants' Projections of the Appropriate Target Federal Funds Rate
1:13 PM:	Potential Negative Reprices With MBS Near Lows
10:05 AM:	NAR: Existing Home Sales Up for Third Month (+5.0%)
9:26 AM:	FHA Announces Additional Steps to Limit Risk and Strengthen Finances
9:25 AM:	MBS Fight to Hold Ground, Eyeing Support Levels in Treasuries

»View All Micro News

Around the Web

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Video News

	CNBC Fed Survey: Great Rate Debate
	AG's Meeting on Settlement
	Have Rates Seen the Bottom?

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Today's Comments

	"Somewhere between none and almost none. But I suppose that would have been a more informative answer on Friday afternoon since we now pretty much have..."
	"@milton - Do you really think that buyers have any clue at all about homestead exemptions and the impact, and even if they do it is such a small percentage..."
	"The reason Decmber was better in home sales was due to buyer's wanting their homestead exemption on their real estate taxes. December has always been..."

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Today's Q&A

"What's the relationship between MBS prices and mortgage rates?"

"Need to purchase Hotels or Gas Stations "

"Can you add another person to the title upon paying off a mortgage?"

»View More Q&A

Market Data

Mortgage Rates

30YR	3.98	0.06

15YR	3.39	0.02

FHA30YR	3.75	0.00

Jumbo30YR	4.25	0.09

5/1ARM	3.01	-0.01

MBS Quotes

30YR FNMA 3	102-20	-0-01

30YR FNMA 4	104-28	-0-03

30YR FNMA 4	106-14	-0-02

30YR FNMA 5	107-25	-0-01

Treasuries

2 YR	0.2425	0.0005

3 YR	0.3795	0.0085

5 YR	0.9091	0.0231

7 YR	1.4844	0.0354

10 YR	2.0582	0.0332

30 YR	3.1346	0.0326

Recent Housing Data

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

Building Permits	-0.15%

Housing Starts	9.08%

Construction	0.81%

NAHB Builder	5.00%

Mortgage Application	23.07%

Mortgage Refinance	26.40%

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