Maine Mortgage Rate Update for September 2, 2010
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 103.13 – down 4/32 from its opening.
Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up – and so do mortgage rates. I expect that Maine mortgage rates will be up to 0.125 points worse in price today as compared to yesterday afternoon.