Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on January 21, 2009

Locking Stance: LOCKING    Mortgage Bonds: 0bp

Yesterday saw little in the way of data and today will be the same as the the data plays are related to this afternoon’s 4-week T-Bill auction and Housing Market Index.  Yesterdays auctions were moderate and saw yields rise slightly.  Overall the market yesterday bounced between their prior support of the 25-day moving average and their current support layer, ending the day right in the middle and allowing mortgage rates to tick slightly higher.

Today will likely be volatile as well and I expect rates to hold steady as we will likely see the Fed buying in force today in their efforts to keep mortgage rates low.  Market forces will continue their efforts to drive mortgage rates higher as we see IBM beating estimates and the added supply hitting the markets wit the T-Bill auction.

What does this mean for Florida Mortgage Rates?  You can expect mortgage rates to remain steady today as the Fed will likely counteract market forces.

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