Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on April 7, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +9bp

Mortgage bonds had a fair day yesterday overall, ending the day up 12 basis points.  With no economic data yesterday or today, only the Treasury Auctions, news and stocks will give direction to the markets. 

Looking at the big picture, mortgage backed securities are holding at the support of their 25-day moving average.  Stochastic indications are moving past the mid level, which allows room for MBS pricing to climb again.  So long as this support holds, there remains hope for lower mortgage rates.

This week is a shortened trading week due to the upcoming Easter holiday, so volatility can be expected, especially if something big hits the media headlines.

What does this mean for Florida Mortgage Rates?  Expect mortgage rates to hold steady, possibly even tick slightly lower in the foreseeable future.

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