Florida Mortgage Rates – Special Report

by Florida's #1 Mortgage Planner on July 16, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +56bp

This report is to inform you I am changing my stance, at least temporarily as the Philadelphia Fed Survey was released and is favorable to mortgage backed securities.  As such, MBS pricing is on the rise and is back above their 200-day moving average.  If they hold, we are back in business for at least a sideways trading pattern. 

The Philadelphia Fed Survey came in below expectations at –7.5, versus –5.0.  That means the road to recovery in the economic sector is not going as well as other indications have shown.  The Survey shows employment remains a significant concern, though future hiring needs have been developing.

What does this mean for Florida Mortgage Rates?  Mortgage rates got the news the needed to keep from climbing higher and should move slightly lower compared to my previous report and the future is beginning to look better again.

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