Locking Stance: LOCKING Mortgage Bonds: -3bp
This week’s forecast is available at Lenderama, but here is what to expect today. (I am going to keep it short as I flew all night and need some sleep)
There is nothing in the way of economic data today, just a speech by Ben Bernanke and the direction that the stock market provides. Looking at the charts, the retracement will likely continue today, maybe even getting down and testing the 25-day moving average. Stochastics back this corrective move as they are almost in the overbought spectrum.
What does this mean for Florida Mortgage Rates? The short term is favoring a tick higher in mortgage rates. The longer term outlook is still uncertain, but appears to have mortgage rates holding steady, possibly moving lower.
