Florida Mortgage Rates – Afternoon Report

by Florida's #1 Mortgage Planner on July 14, 2009

Locking Stance: LOCKING    Mortgage bonds: –34bp

Mortgage backed securities had continued their rebound until recently.  As news hits the airwaves that the government is contemplating making mortgage payments on behalf of some tardy homeowners and even weighing in the thought of allowing failing borrowers to remain in the home as renters, the thought of moral hazard has been totally lost.  The government seems content at becoming the landlord of first resort ever since they have begun to take over the entire financial sector.  With the government wanting to take over failing homeowners’ payments and even become their landlords, government spending is out of control and traders are becoming afraid of what lies ahead.

What does this mean for Florida Mortgage Rates?  Mortgage rates are likely going to be back on the rise as inflation from government spending is back on the table. 

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