The Mortgage Interest Rate Lock Advisory for Barnstable MA for January 11, 2010
Here are some of the events affecting mortgage interest rates today in Barnstable, MA.
What Mortgage Backed Securities Are Doing Today:
- The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.13 this morning - the same as Friday's close.
- At 12:00 pm, the 4.5% MBS coupon was trading at 100.28 - up 5/32 from its opening.
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 0.0 to 0.25 points better in price this morning as compared to Thursday.
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 12-9-2009 to 1-8-2010:
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 $10 billion in inflation-indexed 10-Year Treasury Inflation-Protected Securities (TIPS). 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. 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. While there's still some room for MBS prices to tick higher, 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, please proceed with caution and maintain contact with your mortgage professional. Also, give very serious consideration to applying now and locking in before mortgage interest rates get worse.
Get current mortgage interest rates for your situation in Barnstable, MA.
East Bridgewater, MA 02333
Lew Corcoran, ASP®, IAHSP, IAHSP-CB