Daily Newsletter: Friday October 11, 2013

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30 Year Fixed

                                                                4.38%
                                                                  
                                                                +0.00

15 Year Fixed

                                                                3.47%
                                                                  
                                                                +0.00

10YR Treasury

                                                                2.69%
                                                                  
                                                                +0.0039

FNMA 30YR 3.5

                                                                101-03
                                                                  
                                                                -0-05

FNMA 15YR 2.5

                                                                103-01
                                                                  
                                                                -0-02

View Today's Rates

Friday October 11, 2013

MND NewsWire - 5:10PM

Higher Down-Payment Requirements Coming in November

On November 16, Fannie Mae will implement scheduled changes to its automated underwriting system (DU or "Desktop Underwriter"). DU is used by lenders to approve loans, and several of ...

MND NewsWire - 4:12PM

Wells Posts Record Earnings; Mortgage Pipeline Down 45 Percent from Q2

Wells Fargo Bank reported record net income for the third quarter of $5.6 billion, a 13 percent increase from the same quarter in 2012 even though rising interest rates hurt its mortgage ...

MND NewsWire - 2:25PM

NAR Insists Mortgage Interest Deduction be Saved (so it Probably will be)

The life or death of the mortgage interest deduction (MID) is a perennial Washington, DC soap opera. The prospect of eliminating it is always on the table early in any discussion of ...

Mortgage Rate Watch - 5:43PM

Mortgage Rates Sidestep into Extended Weekend

Mortgage rates were flat today, ending the week higher for the second Friday in a row after 3 exceptionally strong weeks in September. Some lenders offered slightly better rate sheets ...

Latest Video

Mortgage businesses terrific: WFC CFO

Wells Fargo continued strong results

House Republican to hold meeting Saturday

More News from 'Around the Web'

Bloomberg - 6:21PM
Fannie Mae Said to Offer Risk-Sharing Debentures at Lower Yields - Bloomberg
Washington Post - 5:14PM
Wonkblog: Is the lack of economic data leaving a hole in your heart? Let your friends in private equity help.
Reuters - 5:14PM
Fed defends ongoing stimulus, admits communications blips
WSJ - 5:13PM
World Officials Give Janet Yellen the Thumbs Up
Washington Post - 5:12PM
G20 gives U.S. a slap for the shutdown
CNBC - 2:32PM
What your home might look like in the future
WSJ - 2:31PM
Shutdown Leads Economists to Lower Growth Forecasts
CNBC - 2:28PM
JPMorgan sees some ugly firsts with earnings
Boston Fed - 2:28PM
Communicating Monetary Policy at the Zero Bound
CNBC - 2:27PM
Why the GOP has lost the fiscal fight
Washington Post - 12:47PM
Big banks feeling the pinch of decline in mortgage lending
Market Watch - 12:46PM
Fed's Powell: Bernanke taper plan remains intact
economix.blogs.nytimes.com - 10:55AM
Economix Blog: The Fed's Downward Trend at the Top
Reuters - 10:46AM
Draghi: ECB ready to act if market rates rise too high
Washington Post - 10:44AM
Obama, Republicans in debt talks on two fronts
CNBC - 10:39AM
Global wealth hits $241 trillion, but spread skewed
CNN - 9:09AM
For sale by owner: Homeowners ditching brokers
CNBC - 8:47AM
Bernanke's likelier to boost QE than taper: SocGen
CNBC - 8:38AM
Wells Fargo posts earnings of 99 cents a share vs. 97 cents estimate
CNBC - 8:37AM
JPMorgan earnings beat, despite massive legal bill

Today's Comments

	MND NewsWire - 3:45PM "Thank you for the timely update. As a REALTOR, I have been trying to stay on top of this for both my Buyers and Sellers. This was a very informative, easy to read article...."
	MBS Live Chat - 1:53PM "Wanted to give an update. My re-approval process with Provident Funding has gone very smoothly. I received conditional approval this morning, and to this point, they've not asked for any payment etc. (knock on wood)..."
	MBS Live Chat - 1:54PM "They have been very firm in setting their "expectations" however......."
	MND NewsWire - 3:18PM "Don't be so sure about this. Realtors have lost much of their influence since the housing bubble popped, and with Medicare on the table in the coming budget talks you can bet that the MID will not be spared the knife. Yun, like his predecessor, has little credibility in the economic world, and his special..."
	MND NewsWire - 6:28PM "Tobby you are correct. Run the numbers, many will not accrue sufficient mortgage interst expense to itemize their deductions. I do believe the eligible outstanding mortgage balance will be reduced to something around the conforming loan limit...."

Today's Rates

Best Execution

Rate

Change

30 Yr FRM

4.38%

+0.00

15 Yr FRM

3.47%

+0.00

FHA 30 Year Fixed

4.05%

+0.00

Jumbo 30 Year Fixed

4.35%

-0.02

5/1 Yr ARM

3.10%

-0.01

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

4.42%

0.44

-0.07

15 Yr. Fixed

3.52%

0.34

-0.03

30 Yr. Jumbo

4.45%

0.21

-0.08

30 Yr. FHA

4.15%

0.37

-0.06

5/1 ARM

3.25%

0.29

-0.01

Freddie Mac **

30 Yr. Fixed

4.23%

0.70

+0.01

15 Yr. Fixed

3.31%

0.70

+0.02

1 Yr. ARM

2.64%

0.40

+0.01

5/1 Yr. ARM

3.05%

0.40

+0.02

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

96-29

-0-04

30YR FNMA 3.5

101-03

-0-05

30YR GNMA 3.0

97-25

-0-05

30YR GNMA 3.5

102-03

-0-05

15YR FNMA 3.0

103-01

-0-02

15YR FNMA 2.5

99-29

-0-03

Treasuries

Yield

Change

2 YR

0.3501%

+0.0045

5 YR

1.4192%

-0.0097

10 YR

2.6908%

+0.0039

30 YR

3.7454%

+0.0106

Prices as of: 10/11/2013 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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