Maine Mortgage Rate Update for August 31, 2010

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.

Published by Seth Jacobs

Mortgage Broker, Disc Golfer and First Person Shooter Fan living in Vacationland.

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