Maine Mortgage Rate Forecast for July 13, 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 101.19 this morning – down 11/32 from yesterday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 101.16 – down 1/32 from its opening.

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