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Mortgage Rate Forecast for Massachusetts for April 30, 2010
Mortgage Rate Forecast for Massachusetts for April 30, 2010
Here are some of the events affecting mortgage rates today in Massachusetts:
What Mortgage Backed Securities Are Doing Today:
The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.56 this morning - same as yesterday's close. At 9:30 AM, the 4.5% MBS coupon was trading at 100.62 - 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 4.5% coupon over the past 30 days from 3-31-2010 to 4-30-2010:

Economic Reports, News, and Events Affecting Mortgage Interest Rates in Massachusetts Today:
Advance Reading of the 1st Quarter Gross Domestic Product (GDP)- showed that the economy slowed to an annualized growth rate of 3.2%. This follows an annualized growth rate of 5.6% in the last quarter of 2009. The increase is mainly from consumer consumption (which grew at an annualized rate of 3.6%) and business investment (equipment purchases). Unless ... more

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