Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on March 2, 2010

Locking Stance: LOCKING    Mortgage Bonds: –9bp

Mortgage backed securities once again failed to mount a sustainable rally yesterday despite numerous data reports that were favorable.  I still do not like how the charts look, hence why I favor the locking stance as there still needs to be a correction and that will likely trap MBS prices in a sideways pattern.

Data is virtually non-existent today, with just some minor players that do not make waves typically.  The day will be riddled with various Feds talking up a storm.  We will see Boston Federal Reserve Bank President Eric Rosengren speech at a conference on post-crisis capital markets in Philadelphia, Minneapolis Federal Reserve Bank President Naranyana Kocherlakota speech to Allied Executives Business & Economic Outlook Symposium in Minneapolis, and Dallas Fed President Richard Fisher is scheduled to be interviewed on the Nightly Business Report/PBS.  The markets could very well move on what these Feds say.

What does this mean for Mortgage Rates?  Mortgage rates will likely hold steady or move higher.  The future outlook remains most favorable for higher mortgage rates.

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