Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on March 20, 2009

Locking Stance: LOCKING    Mortgage Bonds: –9bp

Mortgage bonds did what was to be expected yesterday as they pulled back from the prior day’s rally and began a corrective period, ending the day down 31 basis points.  Today, you can expect that correction to continue with the absence of any economic data, though Big Ben will be spooking the markets with his speaking engagement today.  Inflationary fears have been creeping back into the markets and Big Ben knows this, which is probably the real reason for the dramatic increase in MBS purchasing the Fed announced Wednesday as I have mentioned before.

What does this mean for Florida Mortgage Rates?  You can expect mortgage rates to move slightly higher today, if at all.  The long term outlook is not etched in stone, but you can expect mortgage rates to remain steady for the foreseeable future.

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