Maine Mortgage Rate Forecast for July 2, 2010

~ Seth Jacobs

Maine Mortgage Rate Forecast for July 2, 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 101.34 this morning – the same as yesterday’s close.
  • At 9:30 AM, the 4.0% MBS coupon was trading at 101.19 – down 5/32 from its opening.

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

Published by Seth Jacobs

Mortgage Broker, Disc Golfer and First Person Shooter Fan living in Vacationland.

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