Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on January 5, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +22bp

Mortgage bonds appear to be in a position to offer slightly better rates in the near future as they are at the bottom of a trading range, a sideways pattern, and the charts are favorable for them climbing back to the top of that range.  With no data today, news and technical indications will be leading the way and that looks good for now.

News from the House is that they will not have the stimulus package on Barack Obama’s desk by January 20th, Inauguration Day, rather they are expecting by mid-February.  The total package is expected to be valued as high as $1 trillion, adding more fuel to the inflation fire through gross government overspending and proving they will not stop until the economy is completely destroyed.

What does this mean for Florida Mortgage Rates?  Mortgage rates may improve slightly in the near term, offering at least a brief period that floating your rate can prove beneficial. 

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