Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on December 22, 2008

Locking Stance: LOCKING    Mortgage Bonds: -16bp

I just got in from Brazil and finally got to my desk.  I will be uploading the weekly Mortgage Market Update at Lenderama shortly, so check over there in a while to see the normal recap of last week and forecast for this week regarding mortgage rates.  But here is what it looks like for today…

I remain in a locking stance and highly doubt my viewpoint will change at all this week.  We have a shortened trading week due to Christmas, and that usually means increased volatility.  There is no economic data slated today that would typically move mortgage rates, so technical indications and news remain in the driver’s seat.  And looking at those, mortgage rates will not likely move anywhere at least until tomorrow.

Tomorrow is the only heavy hitter day as far as economic data goes.  We will see the release of the Personal Consumption Expenditures Index, or PCE for short, and that is the Fed’s favorite gauge on inflation.  This report will offer the best opportunity this week for mortgage rates to break out of this narrow trading range.

What does this mean for Florida Mortgage Rates?  Odds remain favorable that we have seen the lowest mortgage rates we will see for a while at least, for the same reasons as I mentioned before.  Go ahead and lock your loan now and rest comfortably through the holidays.

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