Florida Mortgage Market – Midday Report

by Florida's #1 Mortgage Planner on October 28, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -34bp

Momma said there would be days like this.  She just didn’t warn us that there would be so many of them.  Needless to say, Consumer Confidence hit a 41 year low.

Mortgage bonds are getting beaten down again today and that means that Florida Mortgage Rates are on the rise.  The good news is that bonds are off their lows, barely hanging on to a support layer right now, though the chances are that they will retest their July lows in the near future.

This marks another day of moving the same direction as stocks to a certain extent.  While the DJIA is still up around 150 points, it is well off its highs of 350.  At the same time, bonds have fallen from my earlier report, though not significantly, showing that the typical relationship is anything but in today’s trading environment.

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