Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on June 22, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bond: +41bp

Mortgage backed securities are again in rally mode, so we may indeed be looking to break the overall trend and lower mortgage rates may be back in the forecast.  The key will again be what happens with the 200-day moving average as MBS pricing keeps bouncing across this level and remain indecisive as to which side they want to stay on.

There is no data in play today, namely news and technicals, which allows mortgage bonds to continue higher from Friday’s close.  While there are some Treasury Auctions today, they are not typically significant in their impact on mortgage rates.  As the week progresses, the picture may change quickly, for better or worse, so caution must remain.

What does this mean for Florida Mortgage Rates?  Uncertainty remains in the future of mortgage rates, but for now, floating with caution is advised until we can get a better picture.

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