Maine Mortgage Rate Update for September 7, 2010
What Mortgage Backed Securities (MBS) Are Doing Today:
- The price of the FNMA 30-Year 4.0% MBS coupon opened at 102.78 this morning – the same as Friday’s close.
- At 9:30 AM, the 4.0% MBS coupon was trading at 103.09 – up 10/32 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 this morning as compared to Friday afternoon.