Florida Mortgage Rates – Weekend Report

by Florida's #1 Mortgage Planner on September 19, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds:  0bp

I was unable to access the internet yesterday (I am in Rio de Janeiro with limited internet access), though I doubt I would have said much different than what I am going to say today in the recap. 

Thursday was a good day as mortgage backed securities bounced off their 25-day moving average and MBS pricing closed above their 200-day moving average.  More importantly, they closed slightly higher than their previous recent high.  Friday, however, saw them drop back to their 25-day moving average, a drop of 46 basis points and erased all of Thursday’s gains.  If the 25-day moving average holds, things are still good.  If that level fails, I will likely be changing stance and recommending locking again long-term. 

What does this mean for Florida Mortgage Rates?  Mortgage rates are bouncing up and down a lot lately, still within their range.  However, things may be changing.

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