Florida Mortgage Rate Forecast – August 20, 2010

by Florida's #1 Mortgage Planner on August 20, 2010

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -22bp

Mortgage backed securities are edging lower this morning, but they are currently off their lows, and of course their highs.  There are some legitimate concerns at this point, which can be seen in the charts, but we are not quite ready to switch stances and want to see what happens the remainder of the day.

There is no data slated for today, so news, stocks and technical factors will be in the driver’s seat throughout the day.  To understand the technical factors, one must look at not just the 3.5% FNMA mortgage bond, but also the 4.0% FNMA mortgage bond.  Between the two, you can get a better outlook on the future of mortgage rates and see if we can yet again reach new record low mortgage rates.  For a complete breakdown, don’t forget to listen into Mortgage Market Weekly this Tuesday (8/24) at 11:00 ET (note the time change). 

The show is going to run without a guest again this week, though we may still hit on one or more hot topics in the industry.  A guest may yet be booked, but it may be another solo run.  We are looking for increased participation from the audience and this is your chance to get your questions answered during the show.  If you will be unable to attend, but have questions still, please feel free to submit them through the contact page on this website.  This will likely be a show you do not want to miss, though a partial breakdown will be released in Monday’s weekly Mortgage Rate Forecast as well.

What does this mean for Florida Mortgage Rates?  Mortgage rates are inching higher today, but look to hold fairly steady at this point.  The outlook remains favorable for steady mortgage rates, but there are some concerns that may change the future as we move forward.

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