Monday October 29, 2012
Pipeline Press - 10:33AM
Although the credit markets are open until noon EST, and thus rates are moving, the Fannie Trading Desk spread the word to clients, " Due to Hurricane Sandy, the Capital Markets Sales ...
Mortgage Rate Watch - 1:02PM
Mortgage rates continued falling this morning despite stronger-than-expected economic data. The trading session was punctuated by an early closure for bond markets owing to Hurricane ...
MBS Commentary - 8:24AM
NOTE : "Due to Hurricane Sandy and severe weather, SIFMA recommends an early close of 12:00pm EST on Monday, October 29, 2012 for the trading of US dollar-denominated fixed-income securities ...
MND NewsWire - 2:39PM
Three different scenarios for predicting the level of additional financial support the two government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae may require from the U ...
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"I try to attend most closings and went to 3 last week. My frustration with the industry is a bit less with the guidelines and more with the increased fees that have skyrocketed thanks to the measures designed to protect the consumer. Appraisal fees, +$100-$125 Attorney fees, +$200-$300 Lender UW fees..."
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"Frank: Great article! I attend about 90% of my closings and title agents and realtors are always surprised when the mortgage broker shows up! You have a few who would join you in your quest...."
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"Spot on Frank! More and more I see originators 'coming out' and letting American consumers know just how they feel. It was once an honor to originate loans. I get those same calls you do...from high quality, credit responsible, hard working people, many of whom are my friends and even some my family..."
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"My sentiments as well. I too attend every settlement; I wish I kept a journal! Regarding one point Frank made -- "We have failed to appeal to the regulatory and political powers that be because we haven't built a platform of reform ...." and Lea echoed, "Brokers and Lenders, both wholesale & correspondent..."
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"What a great story thanks for sharing this insight and frustration we all feel..."
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"On Monday, I'm finally closing on a super jumbo loan that took four months to fund. Four months! By the end, I was working for minimum wage. I won't even go into the numerous roadblocks through which we had to bulldoze--some more than once. The new payment will save one of my favorite borrowers hundreds..."
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"Great article, thank you...."
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"Frank; you mirrored my thoughts and sentiments exactly, wonderful article, thank you! Our message does need to be united between all participants in our industry. This can only be achieved by stopping the blame game, meeting on common ground and having the borrowers best interest at heart. Transparency..."
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Today's Rates
30 Yr FRM
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3.41%
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-0.06
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15 Yr FRM
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2.78%
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-0.05
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FHA 30 Year Fixed
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3.25%
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+0.00
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Jumbo 30 Year Fixed
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3.81%
|
-0.06
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5/1 Yr ARM
|
2.98%
|
-0.01
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Average Mortgage Rates
15 Yr. Fixed
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2.97%
|
1.12
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-0.14
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30 Yr. Fixed
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3.74%
|
1.20
|
-0.10
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30 Yr. Fixed
|
3.63%
|
0.45
|
+0.06
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15 Yr. Fixed
|
2.96%
|
0.36
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+0.09
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30 Yr. Jumbo
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3.85%
|
0.42
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+0.04
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30 Yr. FHA
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3.41%
|
0.61
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+0.07
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5/1 ARM
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2.72%
|
0.33
|
+0.13
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30 Yr. Fixed
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3.41%
|
0.70
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+0.04
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15 Yr. Fixed
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2.72%
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0.60
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+0.06
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1 Yr. ARM
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2.59%
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0.40
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-0.01
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5/1 Yr. ARM
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2.75%
|
0.60
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+0.00
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* FHFA averages are updated monthly. ** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
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Secondary Markets
30YR FNMA 3.0
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104-26
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+0-03
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30YR FNMA 3.5
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106-14
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+0-02
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30YR GNMA 3.0
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106-07
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+0-02
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30YR GNMA 3.5
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108-23
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+0-02
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15YR FNMA 3.0
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105-14
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+0-03
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15YR FNMA 2.5
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104-16
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+0-01
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2 YR
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0.2931%
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-0.0079
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5 YR
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0.7420%
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-0.0224
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10 YR
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1.7206%
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-0.0298
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30 YR
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2.8818%
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-0.0248
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Prices as of: 10/29/2012 12:06PM EST
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