Maine Mortgage Market Update 10.22.2010

Open 30Y FNMA MBS 4% Worse by 1/4

Mortgage bond prices are weaker this morning pushing rates higher.

Initially this morning bonds looked higher in overnight trade but so far we have seen nothing but weakness at the mortgage-backed securities open.

Unfortunately stronger stock futures and the additional debt hitting the market next week are weighing heavily upon trading this morning with the lack of any other data out there.