Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on December 23, 2008

Locking Stance: LOCKING    Mortgage Bonds: +12bp

Mortgage bonds had a pretty good day overall, ending it up 12bp and right at their 10-day moving average, begging to question whether or not they can break back into that trading range.

Mortgage backed securities didn’t start off well and they fell hard for a while, being down over 30 basis points at one time.  Tomorrow will be the big market maker of the week, with plenty of data coming in, namely the Fed’s favorite gauge on inflation, PCE.  I will be reporting from Rio de Janeiro again tomorrow, so the first report will be a little later than normal.

What does this mean for Florida Mortgage Rates?  The same scenario continues, at least until after tomorrow’s data.  Mortgage rates should remain relatively steady with odds leaning toward slightly higher rates.

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