Florida Mortgage Rates – Morning Report

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

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +25bp

Mortgage backed securities are back on the rise today, and well of their lows, but basically flat since they opened.  I am not get to get too much into the technical indications here today since I outlined them over in this week’s Mortgage Market Update at Lenderama.

The only bit of data we had slated for today was the Leading Indicators report.  Leading Indicators came in slightly below expectations, though they were up 0.6% (versus 0.7%), which was the fifth consecutive gain.  On the positive side were stock prices, nondefense capital goods, supplier deliveries, and housing permits.  On the negative side, however, were new orders for consumer goods, consumer expectations, initial jobless claims, and money supply.  More confirmation that the recession is over may come from an upward revision in the July coincident index, along with a strong rise in the August coincident index.

What does this mean for Florida Mortgage Rates?  Mortgage rates should be holding steady still, with odds favoring a slight drop in mortgage rates short-term.  The long-term outlook remains favorable for steady mortgage rates (moving higher and lower, but about the same).

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