Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 21, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +25bp

Leave it to Big Ben to find a way to talk up the markets right now.  His testimonial speech today is highlighting that inflation should remain subdued throughout 2009 and 2010 and that unemployment should continue to worsen, peaking at the end of 2009.  He is also adding that job insecurities and dropping home values will keep a lid on consumer spending.  Traders are buying up all the talk and have sent MBS prices higher and mortgage backed securities have now found the strength they needed to bust through their 200-day and 25-day moving averages and are now again painting a better outlook, at least for the moment, for mortgage rates.

What does this mean for Florida Mortgage Rates?  Mortgage rates have now reversed course and are dipping slightly lower and the outlook has become uncertain, but improving.

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