Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on January 19, 2010

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: –22bp

Mortgage backed securities are currently falling, but they broke free to a certain extent last week, ending Friday up about 37 basis points.  Yesterday, as you probably knew, the market was closed for MLK day.  The bottom line is that MBS prices appear to have broken free of the downtrend this time as they broke above the 25-day MA and even closed Friday above the 200-day MA. 

There is not much in the way of data today and we just have the weekly shot-term Treasury auctions to deal with, which should not be a problem based on last week’s results.  Looking at the charts, the 10-day MA is touching the 25-day MA in a positive way and stochastic indications allow room for MBS price advancement and appear positive.  The only negative really, at the moment, is prices have fallen back below the 200-day MA today and that leaves uncertainty about the future. 

OK, on a side note.  For those that have followed me for over two years at Lenderama, I still have not heard back from the new owners as to whether or not they want me to keep writing for them, though I do not have access right now.  I am now working on a website that will carry those weekly updates, and even the daily ones here, and hope to have that available online soon.  Stay tuned for those details as I know many liked seeing my perspective and I want to make sure you still have access to it.

What does this mean for Florida Mortgage Rates?  Mortgage rates are edging higher.  The outlook remains uncertain, but recent indications allow for the opportunity to see lower mortgage rates.  If you are uneasy about waiting, lock your rate, but I think we may have seen a swing for the better.

Leave a Comment

Previous post:

Next post: