The Mortgage Interest Rate Lock Advisory for Yarmouth MA for January 13, 2010
Here are some of the events affecting mortgage interest rates today in Yarmouth, MA.
What Mortgage Backed Securities Are Doing Today:
- The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.51 this morning - down 1/32 from yesterday's close.
- The 4.5% MBS coupon is currently trading at 100.51 - the same as its opening.
Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will essentially be the same in price today 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 12-13-2009 to 1-12-2010:
Economic Reports, News, and Events Affecting Mortgage Interest Rates Today
- There are no economic reports scheduled for release today.
In other news, the Fed Reserve will be auctioning $12 billion in 10-Year Notes today. If the auction is met with weak demand, it could lead to higher mortgage interest rates this afternoon.
What's Happening With Mortgage Interest Rates Today:
Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.
If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional.
Get current mortgage interest rates for your situation in Yarmouth, MA.