Maine Mortgage Rate Forecast for June 16, 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 102.38 this morning – the same as yesterday’s close.
• At 9:30 AM, the 4.5% MBS coupon was trading at 102.58 – up 6/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down – and so do mortgage rates. I expect that mortgage rates will be up to 0.250 points better in price this morning as compared to yesterday.