Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on February 6, 2009

Locking Stance: LOCKING    Mortgage Bonds: 0bp

Yesterday saw another lackluster ending for mortgage backed securities, as they ended the day a mere 3 basis points higher despite the favorable data that was released.  The only set of data that was not necessarily favorable was Money supply as it increased another $19.8B and that gives a hint of inflationary fears, but just a hint.

Today, however, is the big day, where we will see the release of the “Jobs Jamboree” and that could allow the correction so desperately needed to take place.  Unfortunately, I will not be able to give regular updates as I will be in an airplane again today, once again returning from Bolivia.  That means I will be holding my locking stance, but any gains today will likely amount to minimal, if any, drops in mortgage rates and the market has been shrugging off favorable data of late, indicating they still want to see higher mortgage rates.

What does this mean for Florida Mortgage Rates?  Mortgage rates may be able to tick slightly lower today if the jobs data supports it and traders decide it is time to move.  Overall, the future still looks to include higher mortgage rates down the road.

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