Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on January 4, 2010

Locking Stance: CAUTIOUSLY FLOATING   Mortgage Bonds: 9bp

I delayed this morning’s report a little to see how the market reacted to this morning’s ISM Manufacturing Index, which was just released.  I was also writing this week’s Mortgage Market Update over at Lenderama, which I have faithfully written every week for over two years and have had a blast doing so.

The ISM Manufacturing Index came in at 55.9, which was better than expectations of 54.8.  MBS prices dipped on the news but have since edged higher which means we could be seeing a solid corrective move higher.  Only time will tell for sure, but we should see that brief floating period finally before the next leg lower.  For more on technical indications, don’t forget to see this week’s Mortgage Market Update.

What does this mean for Florida Mortgage Rates?  Mortgage rates should finally be edging lower for the short-term (next day or so), but the long-term outlook remains solid for higher mortgage rates.

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