Maine Mortgage Rate Forecast for July 8, 2010

Maine Mortgage Rate Forecast for July 8, 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 101.41 this morning – the same as yesterday’s close.
  • At 9:30 AM, the 4.0% MBS coupon was trading at 101.28 – down 4/32 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 morning.

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