Florida Mortgage Rates – Morning Report

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

Locking Stance: LOCKING    Mortgage Bonds: -16bp

Mortgage bonds managed a bit of a correction yesterday as the stock market crashed and data did little to move the markets.  Today, they have given up some of those gains, though they may very well attempt to break through their 25-day moving average again later today, or later this week.  Remember, we have plenty of data and events this week that could move the markets, but that same data has failed to send mortgage backed securities through the ceiling also.

There is not much in the way of data as we are left primarily looking at the stock market and various speeches today for guidance.  I expect pricing will be under pressures as the stock markets likely will retrace themselves.

What does this mean for Florida Mortgage Rates?  Today may see mortgage rates tick slightly higher, but that correction may not be over just yet.  The long term outlook remains favorable for higher mortgage rates.

Leave a Comment

Previous post:

Next post: