Maine Mortgage Rate Forecast for July 14, 2010

Here are some of the events affecting mortgage rates in Maine:

What Mortgage Backed Securities (MBS) Are Doing Today:

• The price of the FNMA 30-Year 4.0% MBS coupon opened at 100.94 this morning – down 11/32 from yesterday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 101.16 – up 8/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down – and so do mortgage rates. Maine mortgage rates are 0.250 points better in price this morning as compared to yesterday.