Mortgage Rate Forecast for May 17, 2010
Here are some of the events affecting mortgage rates today:
What Mortgage Backed Securities Are Doing Today:
- The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.62 this morning - the same as Friday's close.
- At 9:30 AM, the 4.5% MBS coupon was trading at 101.75 - up 4/32 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 up to 0.250 points better in price this morning as compared to Friday.
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 4-17-2010 to 5-17-2010:
Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:
- There are no economic reports scheduled for release today.
Trend in Mortgage Rates:
The chart below shows the trend in mortgage rates over the past year:
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Lew Corcoran, ASP®, IAHSP, IAHSP-CB