Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on May 10, 2010

Locking Stance: LOCKING    Mortgage Bonds: –31bp

As of the time of this post, there is a programming error at Florida Mortgage Daily, which I am working on.  I hope to have that site back operational later today, and will add this post once it is up and running again for those whom missed it.

As for today, there is no data slated to be released, but there is the weekly short-term Treasury Auctions to be mindful of.  We are also experiencing a rebound in the stock markets on the heels of the Greek debt bailout program, of which the US is gladly contributing via the IMF (International Monetary Fund), as if we don’t have enough debt ourselves.  We are also seeing a continued recovery from last week’s stock trading debacle, of which an investigation is still underway.  For more details, and technical analysis, don’t forget to head over to Lenderama for my weekly Mortgage Market Update, posted last night.  Over the weekend, Federal Reserve Chairman Ben Bernanke delivered a Commencement address to the University of South Carolina with a very interesting topic, “The Economics of Happiness."  Additionally, Minneapolis Federal Reserve Bank President Narayana Kocherlakota will speak to the Economic Club of Minnesota in Minneapolis at 1:00.

What does this mean for Mortgage Rates?  Mortgage rates edged higher this morning, certainly not unexpectedly.  The forecast is still unclear due to last week’s events, but odds favor them edging higher still.

(Note: This post was available on MBS Commentary while this site was down.)

Leave a Comment

Previous post:

Next post: