Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on February 23, 2009

Locking Stance: LOCKING    Mortgage Bonds: +9bp

Mortgage backed securities will not have any data today to play with and thus technical factors should be in control, that is unless news headlines can alter that fact.  Looking at the charts, we see that MBS failed to break through resistance for the fourth time, two of which occurred last week alone.  Stochastics also point to lower mortgage bonds pricing, aka rising mortgage rates.  Look for the Fed to try and prop the markets in the coming days.

What does this mean for Florida Mortgage Rates?  Expect mortgage rates to hold steady or climb today and for the foreseeable future, unless the Fed is able to break the pattern, a task they have filed to do thus far.

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