Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on June 21, 2010

Locking Stance: LOCKING    Mortgage Bonds: –22bp

I trust everyone had a good weekend and now you all are ready to get down to business again.  For those that are interested, check out this week’s Mortgage Rate Forecast (Mortgage Market Update) at Lenderama and tune into my radio show on BlogTalkRadio in about 20 minutes.  I have allotted about 5 minutes for Q&A and will expand that next week to a 30 minute radio show, at least blocked time anyway. 

Well, I am going to keep it short today since I have the show coming up and I spelled out everything in the post at Lenderama and will do so again on the show (you can listen anytime).  The bottom line is that the charts are not looking pretty and it appears the best we are going to get is a sideways pattern, meaning mortgage rates will hold fairly steady but will be up and down within a range.  If MBS prices dip far enough, we may have a full trend reversal and mortgage rates will be heading higher.

What does this mean for Florida Mortgage Rates?  Mortgage rates are heading higher for the short-term, though the long-term has become a question mark.  Mortgage rates may, or may not, come back down to these levels, but the risk reward ratio is definitely in favor of locking at this point.

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