Daily Newsletter: Monday June 2, 2014

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30 Year Fixed

                                                                4.16%
                                                                  
                                                                +0.04

15 Year Fixed

                                                                3.29%
                                                                  
                                                                +0.03

10YR Treasury

                                                                2.53%
                                                                  
                                                                +0.0571

FNMA 30YR 3.5

                                                                102-19
                                                                  
                                                                -0-12

FNMA 15YR 2.5

                                                                103-24
                                                                  
                                                                -0-06

View Today's Rates

Monday June 2, 2014

MND NewsWire - 1:25PM

No More Interest-only HELOCs for Wells Borrowers

According to The Wall Street Journal Wells Fargo Mortgage is revamping its home equity line of credit loans (HELOCs) to eliminate the interest only feature that has characterized these ...

Mortgage Rate Watch - 3:09PM

Mortgage Rates Higher to Begin Important Week

Mortgage rates moved higher today, returning in line with the same "sharply sideways" levels seen just before the most recent push to 2014 lows last week. Bond markets including MBS ...

MND NewsWire - 1:14PM

Prepayment Rates May Foretell Stronger Refi Originations

Prepayment rates, an indicator of refinancing activity, increased slightly in April, the second consecutive monthly increase, as interest rates declined Black Knight Financial Services ...

MBS Commentary - 7:56AM

MBS Week Ahead: Potentially a Very Big Week; Focus on ECB Thursday

On the first week of most any month, the focal point for bond market trading is unquestionably Friday's Nonfarm Payrolls (NFP)--and with good reason. It's the single most important ...

Latest Video

Santelli Exchange: Fed's next act

May ISM Index now 55.4

Santelli: Zone of low yields

More News from 'Around the Web'

CNBC - 3:01PM
Go figure: Investors still buying bonds
CNBC - 3:01PM
ISM double error angers traders
CNBC - 2:11PM
ISM corrects May mfg index (again)
The Big Picture - 2:10PM
Post Peak, Post Bottom CS Housing Numbers
Washington Post - 2:10PM
Wonkblog: The housing crash did nothing to tamp our appetite for enormous houses
www.lpsvcs.com - 12:42PM
Black Knight's April Mortgage Data: Over 40 Percent of Modified Loans Facing Resets Are Underwater
Washington Post - 12:42PM
Wonkblog: Why homeowners who got mortgage help may still end up losing their homes
CNBC - 12:42PM
Chicago real estate is a 'seller's market'
CNBC - 10:58AM
Slow recovery fuels extremism: Roubini
www.census.gov - 10:36AM
2013 Characteristics of New Housing
CNBC - 10:36AM
US ISM manufacturing index at 53.2 vs 55.5 expected; construction spending up 0.2% vs 0.6% expected
WSJ - 10:34AM
Wells Fargo Will Stop Offering Most Interest-Only' Home-Equity Loans
www.ourbroker.com - 9:35AM
If Mortgage Rates Are Down Why Are Home Sales Lagging?
Market Watch - 9:35AM
Bond Report: Treasurys retreat ahead of big week for data
Bloomberg - 8:42AM
Cash Deals Reach Record With Boomers Retiring: Mortgages - Bloomberg
CNBC - 8:41AM
US bonds decline after strong China PMI numbers
www.freddiemac.com - 8:40AM
Competing for Homebuyers in a Buyer's REO Market
CNBC - 8:40AM
How long can Treasury yields stay this low?

Today's Comments

	MBS Live Chat - 8:49AM "Good stuff CS. To Tchir's point about where the focus truly lies, I'd only add the following: http://mndne.ws/T6Iw5Y That's not to say he's absolutely wrong, just that market participants see this, as well as the timing of the two major bouts of pain-trading that came after it (which aligned with ECB..."
	MBS Live Chat - 12:37PM "from market watch, The Institute for Supply Management has admitted to some reporters that it has incorrectly applied seasonal adjustment factors. The new number they're releasing, 56%, may now be too high. ISM initially reported a reading of 53.2%. Economists who have applied ISM's seasonal adjustment..."
	MBS Live Chat - 3:18PM "anyone know the answer to this question: If a veteran is retiring, and doesn’t have his disability rating yet, do you know how long after they close they can apply to be refunded that VAFF amount once their disability rating is approved?..."
	MBS Live Chat - 3:29PM "From what I've experienced there isn't a timeline...it all comes down to from what date they assign the disability rating. From what I've been told multiple funding fees paid post the disability date can be refunded, but I'm not sure if this is true. Also, be advised that the lender/investor is the entity..."

Today's Rates

Best Execution

Rate

Change

30 Yr FRM

4.16%

+0.04

15 Yr FRM

3.29%

+0.03

FHA 30 Year Fixed

3.75%

+0.00

Jumbo 30 Year Fixed

3.97%

+0.04

5/1 Yr ARM

3.25%

+0.01

Current Mortgage Rates »

What are best-execution rates?

Average Mortgage Rates

Rate

Points

Change

FHFA *

15 Yr. Fixed

3.80%

1.10

+0.13

30 Yr. Fixed

4.67%

1.44

+0.13

MBA **

30 Yr. Fixed

4.31%

0.15

-0.02

15 Yr. Fixed

3.42%

0.06

-0.01

30 Yr. Jumbo

4.23%

0.16

-0.01

30 Yr. FHA

4.04%

-0.45

-0.02

5/1 ARM

3.13%

0.19

-0.01

Freddie Mac **

30 Yr. Fixed

4.12%

0.60

-0.02

15 Yr. Fixed

3.21%

0.50

-0.04

1 Yr. ARM

2.41%

0.40

-0.02

5/1 Yr. ARM

2.96%

0.30

+0.00

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

98-13

-0-16

30YR FNMA 3.5

102-19

-0-12

30YR GNMA 3.0

100-07

-0-14

30YR GNMA 3.5

103-18

-0-11

15YR FNMA 3.0

103-24

-0-06

15YR FNMA 2.5

101-11

-0-08

Treasuries

Yield

Change

2 YR

0.3947%

+0.0197

5 YR

1.5964%

+0.0573

10 YR

2.5321%

+0.0571

30 YR

3.3716%

+0.0463

Prices as of: 6/2/2014 3:49PM 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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