Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on July 2, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +25bp

Mortgage backed securities are back on the upswing as the Treasury Department announced a mere $65B in upcoming auctions, down from $104B prior.  With the diminished supply entering the markets next week, traders feel more confident that the added supply can be easily absorbed into the markets without diluting prices.  This marks yet another plus for lower mortgage rates.

What does this mean for Florida Mortgage Rates?  Mortgage rates have improved slightly since my prior report and things are looking a little better.  There is still some uncertainty that remains, but the outlook remains favorable for lower mortgage rates.

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