Maine Mortgage Rate Forecast for July 20, 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 101.88 this morning – the same as yesterday’s close.
- At 9:30 AM, the 4.0% MBS coupon was trading at 101.77 – up 5/32 from its opening.
Remember, on mortgage backed securities (MBSs), as the price goes up, the yield come down – and so do mortgage rates. I expect that Maine mortgage rates will be back to yesterday’s original start and better than Monday’s close.