Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on February 16, 2010

Locking Stance: LOCKING    Mortgage Bonds: –3bp

Mortgage backed securities are down slightly this morning compared to yesterday, but they are higher than when they opened.  Stock futures climbed after Barclay’s posted better than expected and MBS prices opened lower as a result.  Data began flowing today and this week will be full of it.

Starting off today’s data was the Empire State Manufacturing Survey which was higher than expected.  The survey showed General Business Conditions at 24.91 versus the 18.0 expected and climbing from last month’s 15.92.  That indicates a significant month-to-month acceleration in the region’s manufacturing conditions.  Minor data plays will continue today, such as the Housing Market Index this afternoon.  Traders will also be watching the short-term Treasury Auctions today.  Adding to the agenda are the following speeches…

  • Kansas City Federal Reserve Bank President Thomas Hoenig speech to a conference on avoiding a debt crisis, in Washington. (12:00)
  • Atlanta Federal Reserve Bank President Dennis Lockhart speech on early childhood education in Atlanta.(12:30)
  • Minneapolis Federal Reserve Bank President Narayana Kocherlakota speech to Minnesota Bankers Association in St. Paul. (12:45)

Hopefully you read this week’s Weekly Report to get the week’s forecast.  If not, go check it out just below this report.

What does this mean for Mortgage Rates?  Mortgage rates will likely hold steady today, maybe moving slightly, but as data continues the odds favor mortgage rates edging higher again.

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