Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on December 29, 2008

Locking Stance: LOCKING    Mortgage Bonds: 0bp

The mortgage markets are about to open, but with no data on the block today, news and technicals will rule the markets.  We have oil spiking this morning as a result of the Israeli air strikes in Gaza over the weekend and that means stocks could be moving higher.  It also may mark the beginning of the return of inflation, which is mortgage rates’ worst enemy.

I uploaded this week’s Mortgage Market Update over at Lenderama and mentioned I expected mortgage rates to remain relatively steady this week overall.  The charts are showing mortgage backed securities clinging to their 10-day moving average and within their trading range.  If they falter again, it may mark the end of low mortgage rates without continued government intervention, but I suspect we will not see the bubble pop this week.

What does this mean for Florida Mortgage Rates?  I am beginning to sound like a broken record as mortgage rates will likely remain steady.  The odds remain favorable for mortgage rates climbing in the longer term.

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