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The Mortgage Interest Rate Lock Advisory for Truro MA for December 29, 2009
The Mortgage Interest Rate Lock Advisory for Truro MA for December 29, 2009
Here are some of the events affecting mortgage interest rates today in Truro, MA.
What the Mortgage Backed Securities Market is Doing Today:
The price of the FNMA 30-Year 4.5% MBS coupon opened at 99.50 this morning - down 2/32 from yesterday's close.
The 4.5% MBS coupon is currently trading at 99.62 - up 4/32 from its opening this morning. 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 essentially be the same in price this morning as compared to yesterday.
Economic Reports, News, and Events Affecting Mortgage Interest Rates Today
Consumer Confidence Index (CCI) for December - came in at 52.9, slightly less than a reading of 53.0 that analysts were expecting, but is up from the 49.5 reading in November. Posted by the Conference Board, this measures consumer willingness to spend. Because consumer spending makes up two-thirds of the U.S. economy, any related data is watched closely by market traders and can have a significant influence on the mortgage market. If consumers are ... more

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