Maine Mortgage Rate Update for August 24, 2010

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

What Mortgage Backed Securities (MBS) Are Doing Today:

• The price of the FNMA 30-Year 4.0% MBS coupon opened at 102.59 this morning – the same as yesterday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 102.82 – up 7/32 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 up to 0.25 points better in price this morning as compared to yesterday.