Florida Mortgage Rates – Morning Report

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

Locking Stance: LOCKING    Mortgage Bonds: –44bp

Mortgage backed securities gapped lower this morning and fell below their 100-day MA, currently resting on their 200-day MA.  That falls in line with exactly what I have been expecting as you can read in last week’s Mortgage Market Update over at Lenderama.  This week’s update is now available as well, so you can see what I am expecting for the Christmas holiday by reading here.

There is no data to shake the markets today, just news and the weekly short-term Treasury auctions.  “Health Care Reform” made it through the 1st hurdle of 3 remaining, so it will likely get through the Senate before Christmas and may even be crammed down our throats this holiday season.  What a wonderful Christmas present to give to the taxpayers and the majority who will likely get screwed once again for the few.  In fact, I suspect many who want healthcare reform are not going to like the end result, but that is just my opinion.  But you do have to question anything that is being pushed so hard that no one actually has time to read.

OK, enough politics, though the market does react to this stuff.  Technical indications are negative and you can read that analysis in this week’s mortgage market update, so I am not going to restate them here.

What does this mean for Florida Mortgage Rates?  Mortgage rates continue to be on the rise, so I hope you locked already.  There is a slim chance mortgage rates can hold, though the outlook remains most favorable for higher mortgage rates moving forward.

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