Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on July 15, 2009

Locking Stance: LOCKING    Mortgage Bonds: –62bp

Mortgage backed securities are now down to their lowest levels of the day, so I hope you locked already.  The important factor to notice here is that MBS pricing has broken through two layers of support, their 200-day and 25-day moving averages, the 200-day being the key.  Where mortgage rates will be moving from here will be dependent on whether or not they can manage to get back above this important level.  With the FOMC Minutes slated to be released in just over an hour, hopefully they can find that strength, but for now, better safe than sorry.

What does this mean for Florida Mortgage Rates?  Mortgage rates are on the rise today and maybe for the foreseeable future.

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