Maine Mortgage Rate Forecast for June 11, 2010

Maine Mortgage Rate Forecast for June 11, 2010

Here are some of the events affecting mortgage rates in Maine today:

What Mortgage Backed Securities Are Doing Today:

* The price of the FNMA 30-Year 4.5% MBS coupon opened at 103.03 this morning – the same as yesterday’s close.
* At 9:30 AM, the 4.5% MBS coupon was trading at 102.72 – down 10/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up – and so do mortgage rates. Mortgage rates today are 0.375 points or worse in price this morning as compared to yesterday.

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