Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on May 6, 2010

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +15bp

This report is going to be short and to the point, well somewhat to the point.  Actually, I am going to hit the data real quick, then I have to jump on an airplane.

Jobless Claims were inline with expectations at 444K, and the 4-week moving average dipped to 458.5K.  Productivity was higher than expected at 3.6% and Labor costs were below expectations at –1.6%.  Several Feds will be speaking today, so expect volatility as the uncertainty continues.  Once again, floating is only for those (as always) that are not squeamish. 

What does this mean for Mortgage Rates?  Mortgage rates are trying to edge lower again today and the outlook is continuing to improve.  Things can change quickly, so be ready for the corrective move, which is lurking in the shadows.

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