Florida Mortgage Report – Midday Report

by Florida's #1 Mortgage Planner on June 11, 2009

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +44bp

That’s right, the retracement has begun.  This move higher was inevitable, the only question being when as with any dramatic move in either direction, a retracement or pullback must occur to balance things out.  It does not change the overall outlook, which is higher mortgage rates.  However, it does present a brief opportunity to grab slightly lower rates in the short term.  This afternoon’s auction may swing things back to the downside, but at least for now it is better to float.

What does this mean for Florida Mortgage Rates?  You have a brief opportunity to get back in the action if you have been sitting on the sidelines.  Just be ready for the next leg higher.

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