Florida Mortgage Rates – Afternoon Report

by Florida's #1 Mortgage Planner on November 30, 2009

Locking Stance: LOCKING    Mortgage Bonds:: +9bp

I was just informed I did not upload this morning’s report, so I am doing an afternoon report despite the fact not much is happening in the market right now.  I am in Brasil right now and getting ready for my return flight, along with some sightseeing, and did not notice I omitted that report after uploading the weekly Mortgage Market Update at Lenderama.

It seems that the Dubai situation is not spilling over into our own markets today as both stocks and mortgage backed securities are relatively flat.  If you remember last week, when the news first hit the airwaves, stocks fell and MBS prices rose, sending mortgage rates lower. 

Data for today included the Chicago PMI, which beat expectations with a showing of 56.1 versus estimates of 53.0.  The 3-month and 6-month Treasury Bill auctions saw continued strong results, keeping MBS prices from dropping.  Tomorrow will see more data on the economy, along with more news on the housing market.

What does this mean for Florida Mortgage Rates?  Mortgage rates will likely hold steady today.  The short-term outlook is for slightly higher mortgage rates, though the long-term outlook offers the potential for lower mortgage rates than today.

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