Maine Mortgage Rate Update for September 13, 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 102.10 this morning – down 9/32 from Friday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 102.19 – up 3/32 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 as much as 0.125 points better in price this morning as compared to Friday afternoon.