Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on February 3, 2009

Locking Stance: LOCKING    Mortgage Bonds: +3bp

Good morning, mortgage backed securities are off to the races.  Yeah, right.  Reality is they are teeter-tottering across their flatline this morning in a very narrow range today.

We are awaiting the Pending Home Sales which could throw a little movement into the mix, but beyond that, mortgage bonds are not likely to get very moody today at all.  There is no real data plays beyond the above, so MBS will rely mostly on technical factors as well as news.  With MBS hitting resistance, that does not bode very well, though stochastics remain in the oversold territory, which brings some hope.

What does this mean for Florida Mortgage Rates?  Today will likely be a boring day compared to recent ones, with mortgage rates most likely remaining steady.  Yo can expect the correction to continue, with higher mortgage rates down the road unless the government steps in.

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