Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on September 28, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: –3bp

Mortgage backed securities ended the week just above their sideways trading pattern, and that could mean lower mortgage rates ahead.  Currently, the charts do look favorable, with mostly positive signs, that lower mortgage rates may indeed be ahead.  That being said, caution must be exercised as sometimes the markets do not react as the charts predict and we will have a week full of heavy-hitting data.

As for today, things should be fairly quiet.  With only the weekly short-term Treasury auctions taking place, mortgage rates should hold fairly steady as traders wait to see the data forthcoming.  Any major news events could shake the markets a bit, but mortgage rates should not move much.  For more information on what is happening this week, head over to my weekly Mortgage Market Update at Lenderama.

What does this mean for Florida Mortgage Rates?  Mortgage rates should hold steady today, though things could change starting tomorrow.

 

{Update} For those interested, I am going to be on FOX Business News, Stuart Varney’s segment at 1:00pm.

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