Daily Newsletter: Wednesday May 29, 2013

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30 Year Fixed

                                                                3.98%
                                                                  
                                                                -0.02

15 Year Fixed

                                                                3.12%
                                                                  
                                                                -0.02

10YR Treasury

                                                                2.12%
                                                                  
                                                                -0.0535

FNMA 30YR 3.5

                                                                103-28
                                                                  
                                                                +0-15

FNMA 15YR 2.5

                                                                104-04
                                                                  
                                                                +0-12

View Today's Rates

Wednesday May 29, 2013

MND NewsWire - 3:17PM

CFPB Announces Changes to Ablity-to-Repay Rule

The Consumer Financial Protection Agency has, as it promised earlier, released changes to the Ability-to-Repay rule due to go into effect in January 2014. Today's amendments are intended ...

MND NewsWire - 12:11PM

Foreclosures Still Double Pre-Crisis Rate, Inventory Down Sharply

The foreclosure inventory has fallen by nearly a quarter in the last year according to data released today by CoreLogic. Approximately 1.1 million homes were in some stage of the legal ...

MND NewsWire - 9:13AM

Refinance Applications Plummet as Rates Move Higher

Waning enthusiasm for refinancing again drove the volume of mortgage applications down during the week ended May 24. The Mortgage Bankers Association ( MBA ) reported that its Market ...

Mortgage Rate Watch - 4:01PM

Mortgage Rates Pause For Reflection After Tuesday's Frantic Move

Mortgage rates recovered somewhat today , after experiencing their worst day in exactly 4 years yesterday (get caught up HERE ). Rather than triumphantly charging back into lower territory ...

Latest Video

Bill Gross: Correlation Between Stocks & Bond Prices

Santelli: Why Are Rates Moving Higher?

Santelli Digs Down on Housing

More News from 'Around the Web'

CNBC - 11:37AM
Here's How The Party Will End If The Fed Pulls Back
CNBC - 11:37AM
Rising Mortgage Rates, Home Prices a Lethal Brew
CNBC - 10:26AM
Banks Net Income in 1Q Hits All-Time High of $40.3 Billion
Market Watch - 8:54AM
Fixed-rate jumbo mortgages make a comeback
Reuters - 8:53AM
Completed foreclosures hold steady in April: CoreLogic
www.realclearmarkets.com - 2:13PM
QE: A Guide For the Perplexed
NAFCU - 2:09PM
CFPB issues QM revisions
WSJ - 5:00PM
Builder IPO Wave Grows Bigger
CNN - 2:44PM
Fannie and Freddie go on wild ride
Bloomberg - 1:32PM
Treasuries Turning Point at 2.4%, Credit Suisse's Jersey Says - Bloomberg

Today's Comments

	MBS Live Chat - 2:35PM "after further analysis, I think pretty much all 3rd party fees are exempt from the 3% rule..."
	MBS Live Chat - 2:36PM "i think the key is "qualified mortgages" even brokers are selling qualified mortgages the majority of the time..."
	MBS Live Chat - 2:37PM "this falls under the QM rule Jeff. Originating QMs doesn't exempt you from this rule..."
	MBS Live Chat - 2:44PM "REPRICE : 2:44 PM - Everbank Better..."
	MBS Live Chat - 2:53PM "On the comp rule, items that fall into APR would be considered against the 3% cap, yes?..."
	MBS Live Chat - 2:55PM "So for brokers, the lender paid comp to the broker entity does or does not fall into the 3%. I was under the impression that it did not...."
	MBS Live Chat - 2:56PM "It does fall into the 3% cap..."
	MBS Live Chat - 2:56PM "It is not a fee though and the borrower is not paying it...."
	MBS Live Chat - 2:57PM "It is also not calculated in the APR..."
	MBS Live Chat - 2:57PM "The borrower does pay in the form of a higher rate. That seems to be the confusion..."
	MND NewsWire - 4:07PM "The bet around the office is that on 1/1/14, DU & LP will max out at 43% DTI. We are curious as to what our brethren thinks is going to happen?..."

Today's Rates

Best Execution

Rate

Change

30 Yr FRM

3.98%

-0.02

15 Yr FRM

3.12%

-0.02

FHA 30 Year Fixed

3.53%

-0.02

Jumbo 30 Year Fixed

4.20%

-0.05

5/1 Yr ARM

2.92%

-0.03

Current Mortgage Rates »

What are best-execution rates?

Average Mortgage Rates

Rate

Points

Change

FHFA *

15 Yr. Fixed

2.96%

0.83

+0.12

30 Yr. Fixed

3.74%

1.06

+0.12

MBA **

30 Yr. Fixed

3.90%

0.39

+0.12

15 Yr. Fixed

3.10%

0.30

+0.14

30 Yr. Jumbo

4.07%

0.27

+0.14

30 Yr. FHA

3.62%

0.27

+0.09

5/1 ARM

2.60%

0.24

+0.00

Freddie Mac **

30 Yr. Fixed

3.59%

0.70

+0.08

15 Yr. Fixed

2.77%

0.70

+0.08

1 Yr. ARM

2.55%

0.40

+0.00

5/1 Yr. ARM

2.63%

0.50

+0.01

Current Mortgage Rates »

* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.

Secondary Markets

MBS

Price

Change

30YR FNMA 3.0

100-29

+0-22

30YR FNMA 3.5

103-28

+0-15

30YR GNMA 3.0

102-01

+0-22

30YR GNMA 3.5

105-10

+0-14

15YR FNMA 3.0

104-04

+0-12

15YR FNMA 2.5

102-08

+0-16

Treasuries

Yield

Change

2 YR

0.2970%

+0.0047

5 YR

0.9904%

-0.0245

10 YR

2.1153%

-0.0535

30 YR

3.2643%

-0.0618

Prices as of: 5/29/2013 4:31PM EST

Current MBS / Treasury Prices »

MBS and Treasury data provided by Thomson Reuters.

Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.

Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments. Rates and terms are subject to change without notice.

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