Maine Mortgage Rate Forecast for July 1, 2010

Maine Mortgage Rate Forecast for July 1, 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 101.25 this morning – the same as yesterday’s close.
  • At 9:30 AM, the 4.0% MBS coupon was trading at 101.16 – down 3/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up – and so do mortgage rates.So far, Maine mortgage rates are about the same in price this morning as compared to yesterday. My guess, is we may see an adjustment for the worse late this afternoon.

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