Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 3, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: 0bp

The mortgage backed securities market is closed today in observance of Independence Day (Fourth of July).  With the market ending the day up only 9 basis points on some favorable data, caution must remain.  Overall, the picture looks good for mortgage rates, however, things can change fairly quickly and they are fairly close to resistance that has been holding them moving lower.  MBS prices are still holding their ground with the support of their 200-day moving average, and so long as that level holds, mortgage rates should not be on the rise anytime soon.

What does this mean for Florida Mortgage Rates?  Mortgage rates should hold steady and the outlook is for lower mortgage rates possibly, though caution remains.

Leave a Comment

Previous post:

Next post: