Maine Mortgage Rate Trends and Forecast for July 9, 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 101.44 this morning – the same as yesterday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 101.50 – up 2/32 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 Maine mortgage rates will be about the same in price this morning as compared to yesterday.