Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on December 14, 2009

Locking Stance: LOCKING    Mortgage Bonds: –3bp

Mortgage backed securities will likely be fairly flat today and take their lead from the stock market as data is non-existent today.  We will need to watch for the results of this week’s short-term Treasury Auctions, which will be at 11:30, but do not expect a huge move on their results unless demand falls off dramatically.

News today is that Abu Dhabi is going to help bail out Dubai, which should provide some comfort to the world, and thus stocks.  Citi is going to repay $20 B of its government aid as well, so things are not looking overly favorable to MBS prices.  The charts do not paint a bright future for mortgage rates at the moment, so odds are to just lock and be happy.

What does this mean for Florida Mortgage Rates?  Today should see mortgage rates hold fairly steady.  Though the short term outlook will allow for a brief improvement in mortgage rates, they may not be much better than today’s and the outlook is for higher mortgage rates.

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