Maine Mortgage Rate Update for September 17, 2010

What Mortgage Backed Securities (MBS) Are Doing Today:

• The price of the FNMA 30-Year 4.0% MBS coupon opened at 102.56 this morning – up 8/32 from yesterday’s close.
• At 9:30 AM, the 4.0% MBS coupon was trading at 102.53 – down 1/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up – and so do mortgage rates.  Maine mortgage rates should be up to 0.250 points better in price this morning as compared to yesterday afternoon.