Professional Home Staging and Photography Blog: October 2009

The Mortgage Interest Rate Lock Advisory for Brunswick ME for October 21, 2009

The Mortgage Interest Rate Lock Advisory for Brunswick ME for October 21, 2009

Here are some of the events affecting mortgage interest rates today in Brunswick, Maine.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.69 this morning - down 7/32 from yesterday's close.

The chart below shows today's price trend of the FNMA 30-Year 4.5% coupon:

The price trend of the FNMA 30 Year 4.5% Mortgage Backed Security (MBS) on October 21, 2009

The FNMA 30-Year 4.5% MBS coupon is currently trading at 100.59 - down 3/32 from 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 be 0.375% - 0.625% worse in price this morning as compared to yesterday.

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days:

The price trend of the FNMA 30-Year 4.5% coupon from 9-22-2009 to 10-21-2009

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

  • The Federal Reserve Beige Book - this data will reveal the economic conditions in each of the 12 regions of the U.S. The Fed relies on this report at their Federal Open Market Committee (FOMC) meetings when they set their interest rate policy. The highlights of the Beige Book will be comments about the labor market and the retail sales. If the Beige Book provides evidence of economic growth from or concerns about inflation since the last release, then the result could be higher mortgage interest rates.

There are a number of quarterly earnings reports scheduled for release this week that could affect the stock markets. If the earnings reports are good or better than expected, then you can expect traders to sell bonds and mortgage backed securities and move those funds into stocks. If, on the other hands, earnings reports are worse than expected, then you can expect traders to sell stocks and move those funds into bonds as a safe-haven.

What's Happening With Mortgage Interest Rates Today:

Moderate volatility. Overall, expect the mortgage market to be heavily influenced mostly by the stock markets today.

My Mortgage Interest Rate Lock Advice for Today:

If I were considering financing/refinancing a home, I would...

  • Lock if my closing was taking place within the next 7 days
  • Lock if my closing was taking place between 8 and 30 days
  • Float if my closing was taking place between 31 and 45 days
  • Float if my closing was taking place between 46 and 60 days

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of any or all other borrowers.

Get today's mortgage interest rates for your situation in Brunswick, ME.

 

East Bridgewater, MA 02333
Phone: (508) 443-1332

Lew Corcoran, ASP®, IAHSP, IAHSP-CB
Accredited Home Staging Professional
Professional Real Estate Photographer

Follow me on Google+

Comment balloon 0 commentsLew Corcoran, ASP® • October 21 2009 10:24AM
The Mortgage Interest Rate Lock Advisory for Brunswick ME for October…
share
The Mortgage Interest Rate Lock Advisory for Brunswick ME for October 21, 2009 Here are some of the events affecting mortgage interest rates today in Brunswick, Maine What the Mortgage Backed Securities Market is Doing Today: The… more
The Mortgage Interest Rate Lock Advisory for Westborough MA for…
share
The Mortgage Interest Rate Lock Advisory for Westborough MA for October 20, 2009 Here are some of the events affecting mortgage interest rates today in Westborough, MA What the Mortgage Backed Securities Market is Doing Today: … more
Mortgage securities rating agency Moody's and the whole system under…
share
Mortgage-backed securities, or MBS, played a pivotal part in the recent galloping real estate market and in its eventual and memorable collapse. These bonds get rated based on risk before they are offered for sale so that potential investors -… more
The Mortgage Interest Rate Lock Advisory for Hudson NH for October 19…
share
The Mortgage Interest Rate Lock Advisory for Hudson NH for October 19, 2009 Here are some of the events affecting mortgage interest rates today in Hudson, NH What the Mortgage Backed Securities Market is Doing Today: The price of… more
The Mortgage Market Watch for the Week of October 19, 2009
share
The Mortgage Market Watch for the Week of October 19, 2009 Events Affecting the Mortgage Market This Week: On Thursday, the Treasury will announce the amounts for next week's 2-Year, 5-Year and 7-Year Note auctions totaling about $120… more
The Mortgage Interest Rate Lock Advisory for Auburn ME for October 16…
share
The Mortgage Interest Rate Lock Advisory for Auburn ME for October 16, 2009 Here are some of the events affecting mortgage interest rates today in Auburn, ME What the Mortgage Backed Securities Market is… more
Las Vegas short sales can sting homeowners later on
share
Mortgage banks have been pushed between the rock and the hard place in today's reeling real estate market. They are trying to make the right moves to keep their bleeding books from totally blowing up during this perfect storm as more and more home… more
The Mortgage Interest Rate Lock Advisory for Chelsea MA for October…
share
The Mortgage Interest Rate Lock Advisory for Chelsea MA for October 15, 2009 Here are some of the events affecting mortgage interest rates today in Chelsea, Massachusetts What the Mortgage Backed Securities Market is Doing Today: … more
The Mortgage Interest Rate Lock Advisory for Bedford NH for October…
share
The Mortgage Interest Rate Lock Advisory for Bedford NH for October 14, 2009 Here are some of the events affecting mortgage interest rates today in Bedford, New Hampshire What the Mortgage Backed Securities Market is Doing Today: … more
MBA, NAR and NAHB push hard for tax credit expansion, yes expansion
share
Affordable mortgage money and in many areas really mouth-watering prices are helping the real estate market out but it needs much more than that in this frustrating economic environment. The famous up to $8, 000 tax credit, it is due to expire at… more