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The Mortgage Interest Rate Lock Advisory for Sanford ME for October 2, 2009
The Mortgage Interest Rate Lock Advisory for Sanford ME for October 2, 2009
Here are some of the events affecting mortgage interest rates today in Sanford, Maine.
What the Mortgage Backed Securities Market is Doing Today:
The price of the FNMA 30-Year 4.5% MBS coupon opened up 6/32 at 101.92.

The price of the FNMA 30-Year 4.5% MBS coupon closed up 17/32 yesterday at 101.75 (as shown by the white line). MBS is currently trading up 3/32 at 101.84 (as shown by the blue line). Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be 0.0% - 0.125% better in price this morning as compared to yesterday.
Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:
Employment Report for September - the unemployment rate increased to 9.8% as 263,000 additional non-farm jobs were lost - much greater than the 170,000 decline analysts expected. There was a 0.1% increase in hourly earnings; analysts were expecting a 0.2% increase. The readings are weaker than expected readings; however the mortgage interest rates did not react as expected. Factory Orders Report ... more

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