Professional Home Staging and Photography Blog: October 2009

The Mortgage Interest Rate Lock Advisory for Lewiston ME for October 13, 2009

The Mortgage Interest Rate Lock Advisory for Lewiston ME for October 13, 2009

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

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.19 this morning - down 3/32 from Friday's close.

The price trend of the FNMA 30 Year 4.5% Mortgage Backed Security (MBS) on October 13, 2009

The FNMA 30-Year 4.5% MBS coupon is currently trading at 101.22 - up 1/32 from it's opening (as shown by the blue line). Last Friday, MBS closed down 19/32 for the day, and was 10/32 down for the week at 101.28. 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 0.25% - 0.50% worse in price this morning as compared to Friday.

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 9-14-2009 to 10-12-2009

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

  • There are no economic reports scheduled for release today.

The 30-year Bond auction yesterday did not go as well as 10-year auction on Wednesday. This led to a selling in mortgage backed securities yesterday afternoon that carried over to this morning.

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. Expect mortgage interest rates to rise following the lackluster sale of the 30-year Bond yesterday.

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.

For the best mortgage interest rates in Lewiston, ME, click here.

 

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 13 2009 11:16AM
The Mortgage Interest Rate Lock Advisory for Lewiston ME for October…
share
The Mortgage Interest Rate Lock Advisory for Lewiston ME for October 13, 2009 Here are some of the events affecting mortgage interest rates today in Lewiston, Maine What the Mortgage Backed Securities Market is Doing Today: The… more
The Mortgage Market Watch for the Week of October 12, 2009
share
The Mortgage Market Watch for the Week of October 12, 2009 Events Affecting the Mortgage Market This Week: There are a number of quarterly earnings reports scheduled for release this week that could affect the stock markets. If the… more
The Mortgage Interest Rate Lock Advisory for Springfield MA for…
share
The Mortgage Interest Rate Lock Advisory for Springfield MA for October 9, 2009 Here are some of the events affecting mortgage interest rates today in Springfield, Massachusetts What the Mortgage Backed Securities Market is Doing Today… more
Mortgage market to get boost from Fannie Mae and Freddie Mac
share
One of the key mortgage segments funding home purchases in the recent past has been warehouse lending. The concept can be defined as short-term lending by large commercial banks or other financial institutions for non-depository mortgage brokers… more
The Mortgage Interest Rate Lock Advisory for Keene NH for October 8,…
share
The Mortgage Interest Rate Lock Advisory for Keene NH for October 8, 2009 Here are some of the events affecting mortgage interest rates today in Keene, New Hampshire What the Mortgage Backed Securities Market is Doing Today: The… more
The Mortgage Interest Rate Lock Advisory for Augusta ME for October 7…
share
The Mortgage Interest Rate Lock Advisory for Augusta ME for October 7, 2009 Here are some of the events affecting mortgage interest rates today in Augusta, Maine What the Mortgage Backed Securities Market is Doing Today: The… more
The Mortgage Interest Rate Lock Advisory for Worcester MA for October…
share
The Mortgage Interest Rate Lock Advisory for Worcester MA for October 6, 2009 Here are some of the events affecting mortgage interest rates today in Worcester Massachusetts What the Mortgage Backed Securities Market is Doing Today: &… more
The Mortgage Interest Rate Lock Advisory for October 5, 2009
share
The Mortgage Interest Rate Lock Advisory for October 5, 2009 Here are some of the events affecting mortgage interest rates today in Laconia New Hampshire What the Mortgage Backed Securities Market is Doing Today: The price of… more
The Mortgage Market Watch for the Week of October 5, 2009
share
The Mortgage Market Watch for the Week of October 5, 2009 Events Affecting the Mortgage Market This Week: The Treasury Dept. will auction another $71 billion in notes and bonds this week to fund the growing federal budget deficit. The… more
Mortgage lenders now more inclined to lower principal
share
The home loan industry has been steadily resisting giving homeowners any principal reduction breaks throughout this real estate inferno. The government has been all over it to do mortgage modifications at a reasonable clip in an effort to keep the… more