Maine Mortgage Rate Update for August 31, 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 103.25 this morning – the same as yesterday’s close.
- At 9:30 AM, the 4.0% MBS coupon was trading at 103.47 – 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 as much as 0.250 points better in price today as compared to yesterday afternoon.
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