Florida Mortgage Rates – Afternoon Market Report

by Florida's #1 Mortgage Planner on September 16, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -63bp

Mortgage bonds are off their lows for now, having dropped down to test and bounce off their secondary support layer.  Besides the Fed decision, the Fed is rumored to be reconsidering its stance on AIG’s situation and that is sending stocks higher.

When stocks go higher, they usually pull money from bonds and send those prices lower, which sends mortgage rates higher.  As the day progresses and comes to a close, we will see if bonds can get back above their original support layer.  With no major data for tomorrow, news will likely be what keeps bonds moving.

Leave a Comment

Previous post:

Next post: