Florida Mortgage Daily – Morning Report

by Florida's #1 Mortgage Planner on March 9, 2009

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.

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