Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on March 31, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +3bp

Mortgage backed securities had a nice run up yesterday, but they did pull back most of those gains as they ended the day only up 13 basis points on a very weak stock market (the DJIA dropped over 250 points).  Today’s moves may be largely due to where stocks head today as they try to rebound from yesterday’s fall, but there will be some data plays that could shake the markets as well, the largest lay being today’s Chicago PMI at 9:45.  Here is what is scheduled today:

  • 9:00 – Case-Shiller HPI
  • 9:00 – Gary Stern Speaks
  • 9:45 – Chicago PMI
  • 10:00 – Consumer Confidence
  • 1:00 – Charles Plosser Speaks

The Case-Shiller HPI was just released and both the Composite 10 and the Composite 20 were lower than last month, but that was no real surprise.  All eyes are awaiting the PMI’s release, so my stance may change at that time.

What does this mean for Florida Mortgage Rates?  Mortgage rates will likely move some today, at the moment possibly lower, but they could move higher as well.  Check back after 9:45 and I will have an update then.

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