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Mortgage Rates to Take Big Hit from GSE Fee Hikes

By Bill Ladewig

Mortgage and Lending with LoanOfficerSchool.com NMLS 291249

December 18, 2013 01:33 AM

MORTGAGE INTEREST RATE LOCK ADVISORY

December 18, 2013 9:30 AM PST

Click for Updated Lock Advice

LOCK ADVISORY

7 Day Mortgage Interest Rate lock or Float Advice: LOCK

The cost for a 3.50% rate based on Mortgage Backed Securities is up 0.26 point

30 Day Mortgage Interest Rate Lock or Float Advice: LOCK

MARKET INDICATORS

National Average for 30-Yr Fixed Mortgage Rate is up 0.04% to 4.42% on Dec. 12
MBS (3.5%) - Currently 99.82, High: 100.09, Low: 99.64
DJI Stocks currently $15,907.57, Up $32.31, Change 0%
Asian & European Stock Market Indexes changed 1.149%
Crude Oil (WTI) Currently $97.43 - Change 0.22%
Gold 1 Once - $1,230.60

REAL ESTATE & MORTGAGE NEWS

Mortgage Rates to Take Big Hit from GSE Fee Hikes

by Ted Rood - As loan officers and borrowers prepare for the Federal Open Market Committee's ("the Fed") potential tapering announcement Wednesday, Fannie Mae and Freddie Mac ("the GSEs") Tuesday released new pricing adjustments that dramatically raise costs for borrowers in 2014. The new fees are mandated by the Federal Housing Finance Agency (FHFA) as a part of their strategic plan to encourage private capital to reenter the mortgage market, which is currently dominated by the GSEs. >>Read More