Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on April 8, 2009

Locking Stance: LOCKING    Mortgage Bonds: 0bp

Mortgage bonds had a pretty good day yesterday, and may even be able to continue their move higher today, though some weakness can be seen thus far.  Generally speaking, as long as MBS pricing remains above their 25-day moving average support level, lower mortgage rates remain a possibility.  However, as I typically do, I am holding a locking stance today as I will be on an airplane heading home after an “extended stay” on my this trip.

As far as economic data goes, there is not much on the schedule except for one big thing, which will likely make or break the markets.  That report will be the FOMC Minutes, the “Fed Unplugged” if you will from their last meeting.  We will also see Crude Inventories released at 10:30 and we already saw MBA Purchase Applications this morning, which moved higher again this last week, a sign that things may be getting better in the housing market as purchase applications jumped 11%.

What does this mean for Florida Mortgage Rates?  Expect mortgage rates to remain fairly steady, at least until this afternoon.

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