Daily Newsletter: Tuesday October 8, 2013

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30 Year Fixed

                                                                4.33%
                                                                  
                                                                +0.04

15 Year Fixed

                                                                3.43%
                                                                  
                                                                +0.01

10YR Treasury

                                                                2.64%
                                                                  
                                                                +0.0055

FNMA 30YR 3.5

                                                                101-19
                                                                  
                                                                -0-05

FNMA 15YR 2.5

                                                                103-12
                                                                  
                                                                -0-02

View Today's Rates

Tuesday October 8, 2013

Mortgage Rate Watch - 5:00PM

Mortgage Rates Slightly Higher, but Maintaining Recent Range

Mortgage rates moved higher today, but remain in the range of recently lower levels that has persisted since late September. Conforming, 30yr fixed best-execution remains at 4.25% though ...

MND NewsWire - 1:26PM

Shadow Inventory Drops below 2 Million Homes

CoreLogic said today that the shadow inventory or pending supply of homes at the end of July consisted of 1.9 million homes with an approximate market value of $293 billion. The shadow ...

MND NewsWire - 11:27AM

Freddie Mac's Shutdown Workaround for Furloughed Workers

Freddie Mac has issued guidance to its lenders and servicers in an effort to keep the mortgage market flowing during the lengthening government shutdown . The second shutdown-related ...

MND NewsWire - 9:40AM

The New Mortgage Securitization Platform Gets Real

The new securitization platform envisioned in the Federal Housing Finance Agency's (FHFA) Strategic Plan for Freddie Mac and Fannie Mae has taken several steps toward reality . FHFA ...

Latest Video

We are seeing lack of leadership in DC: Thain

Blackrock: What default means for bonds

Still like owning Treasurys: Pro

More News from 'Around the Web'

Washington Post - 5:42PM
Wonkblog: Does raising the debt ceiling increase the debt?
Bloomberg - 5:41PM
FDIC Urges Judge to Reject $500 Million Countrywide Deal - Bloomberg
Market Watch - 5:40PM
Federal regulators discuss debt ceiling deadline
Market Watch - 4:30PM
Fed could taper in Oct. or Dec., Plosser says
Reuters - 4:30PM
In tight decision, a Fed centrist wanted to trim QE
business.time.com - 3:37PM
When Will U.S. Actually Hit the Debt Ceiling?
www.aei.org - 3:36PM
Too many Americans are in homes they can't afford
CNN - 3:35PM
12 things I know about the debt ceiling and the shutdown
CNBC - 3:35PM
Reluctantly, market faces a real default threat
CNBC - 1:48PM
Americans prefer hemorhoids, witches and fungus to Congress
CNBC - 1:44PM
Pres. Obama to make statement at 2pm ET
WSJ - 12:46PM
Fed's Plosser: FOMC Missed Excellent Opportunity' to Taper in September
Reuters - 12:45PM
Holders of U.S. government debt draw up contingency plans for default
Market Watch - 12:45PM
Two Fed officials say they backed September taper
Washington Post - 12:43PM
Wonkblog: Obama and Boehner spoke this morning. Their summaries of the call are different
CNBC - 11:54AM
'End of suburbia' may nearly be upon us: Sam Zell
CNBC - 10:51AM
Boehner calls on Obama to talk

Today's Comments

	MBS Live Chat - 9:40AM "William - there is no issue there unless you have overlays, rental history to use rental income is an overlay if thats what you are worried about..."
	MBS Live Chat - 10:01AM "when the gov't restarts do we get a flood of information released or will they just wait for next month and release 2 months of data?..."
	MBS Live Chat - 10:03AM "they will probably issue some kind of calendar of events..."
	MND NewsWire - 10:06AM "Surprised anyone's been writing 40 year terms and interest only loans (with exception of jumbos). Now will CFPB start restricting auto loans to 60 months? Saw an 84 month loan on a recent credit report. Good luck staying right side up on that loan!..."
	MBS Live Chat - 1:51PM "quick scenario: conventional rate and term refi, want to pay off a credit card due to a dti issue. Borrower will close account and we will order a supplement. I have done this in the past and sold to Sunturst (less than 1 year ago.) My u/w is telling me this can not be done. Is this correct or a wells..."
	MBS Live Chat - 1:52PM "if account is closed prior to closing it can be done...."
	MBS Live Chat - 1:52PM "so long as you can documnet where funds to payy off account came from..."
	MBS Live Chat - 1:52PM "what fph says..but there could always be a lender overlay..."
	MBS Live Chat - 1:52PM "Your UW is wrong -- needs to show proof of available funds to payoff, copy of letter closing account and supplement showing account closed..."
	MBS Live Chat - 1:53PM "ok that is what I have done in past. This is a wells specific guidline. Thank you and I will have to ask for an exception..."
	MBS Live Chat - 1:53PM "Key is sourcing the funds used to pay off the account...."

Today's Rates

Best Execution

Rate

Change

30 Yr FRM

4.33%

+0.04

15 Yr FRM

3.43%

+0.01

FHA 30 Year Fixed

4.02%

+0.02

Jumbo 30 Year Fixed

4.33%

+0.01

5/1 Yr ARM

3.14%

+0.03

Current Mortgage Rates »

What are best-execution rates?

Average Mortgage Rates

Rate

Points

Change

FHFA *

15 Yr. Fixed

3.62%

1.06

+0.18

30 Yr. Fixed

4.49%

1.21

+0.22

MBA **

30 Yr. Fixed

4.49%

0.34

-0.13

15 Yr. Fixed

3.55%

0.33

-0.13

30 Yr. Jumbo

4.53%

0.22

-0.13

30 Yr. FHA

4.21%

0.35

-0.11

5/1 ARM

3.26%

0.28

-0.13

Freddie Mac **

30 Yr. Fixed

4.22%

0.70

-0.10

15 Yr. Fixed

3.29%

0.70

-0.08

1 Yr. ARM

2.63%

0.40

+0.00

5/1 Yr. ARM

3.03%

0.60

-0.04

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

97-11

-0-04

30YR FNMA 3.5

101-19

-0-05

30YR GNMA 3.0

98-06

-0-03

30YR GNMA 3.5

102-14

-0-04

15YR FNMA 3.0

103-12

-0-02

15YR FNMA 2.5

100-09

-0-03

Treasuries

Yield

Change

2 YR

0.3891%

+0.0439

5 YR

1.4256%

+0.0245

10 YR

2.6375%

+0.0055

30 YR

3.6908%

-0.0070

Prices as of: 10/8/2013 4:32PM 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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