Maine Mortgage Rate Forecast for June 24, 2010

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

What Mortgage Backed Securities (MBS) Are Doing Today:

• The price of the FNMA 30-Year 4.0% MBS coupon opened at 100.75 this morning – the same as yesterday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 100.91 – up 5/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down – and so do mortgage rates.  Maine mortgage rates are about 0.125  better in price this morning as compared to yesterday.