Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on January 12, 2009

Locking Stance: LOCKING    Mortgage Bonds: 0bp

I just finished doing the Mortgage Market Update over at Lenderama, to which I added more data and events to the weekly schedule of news affecting mortgage backed securities (MBS).  It also gives my weekly recap and forecast for those wondering where those went from this website.

As this day gets started, we already have seen mortgage bonds drop out of the starting gate and rebound to their flatline, indicating the Fed is again propping the markets, as their is little other reason for the comeback.  Stocks are down slightly, but with no data to play off, markets should rely more on technicals and news to move and that favors mortgage bonds dropping in price at the moment.

What does this mean for Florida Mortgage Rates?  Mortgage rates are again being held steady by the Federal Reserve buying up mortgage backed securities to artificially keep mortgage rates low.

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