Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on June 15, 2010

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: –6bp

Mortgage backed securities are currently seeing a pullback from their earlier run, but I still think that MBS prices may take another attempt to break higher.  I again apologize for lack of reports Friday, and yesterday, but every 9 months my flight training takes priority.  Hey, I get to do all those things you really don’t want to see when passengers are on board, like engine fires, flipping upside down, etc.

The charts look good despite the dip right now.  We will have to wait and see (with finger on the lock button) where MBS prices go from here.  I will get into more on the charts later, like tomorrow, but even the data today isn’t moving the markets either.  Stocks are the driving force, loud and clear, as stocks are pushing higher right now and that is driving down MBS prices, which could change the pattern, so lock if you can’t stomach risk.

What does this mean for Florida Mortgage Rates? Mortgage rates edged lower, but are changing course at the moment.  The charts are currently still favoring mortgage rates edging back lower at the moment, but we will have to wait and see if this holds.

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