Mortgage Rate Forecast for September 8, 2010 - Improving, or...?
By Lew Corcoran, ASP®, Home Stager & Real Estate Photographer
(Scena Home Staging & Decora Photography)
Mortgage Rate Forecast for September 8, 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 103.28 this morning - the same as yesterday's close. At 9:30 AM, the 4.0% MBS coupon was trading at 103.13 - down 5/32 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 mortgage rates will be up to 0.125 points worse in price this morning as compared to yesterday afternoon. 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 8-9-2010 to 9-8-2010: Economic Reports, News, ...