Mortgage Rate Forecast for August 26, 2010 - Improving, or...?
By Lew Corcoran, ASP®, Home Stager & Real Estate Photographer
(Scena Home Staging & Decora Photography)
Mortgage Rate Forecast for August 26, 2010 - Improving, or...? Here are some of the events affecting mortgage rates today: What Mortgage Backed Securities (MBS) Are Doing Today: The price of the FNMA 30-Year 4.0% MBS coupon opened at 102.89 this morning - the same as yesterday's close. At 10:00 AM, the 4.0% MBS coupon was trading at 102.95 - up 2/32 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 mortgage rates will be about the same in price this morning as compared to yesterday. Price Trend in Mortgage Backed Securities: The chart below shows the price trend of the FNMA 30-Year 4.0% coupon over the past 30 days from 7-27-2010 to 8-26-2010: Economic Reports, News, and Events Affecting...