Florida Mortgage Rates – Evening Market Report

by Florida's #1 Mortgage Planner on September 15, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +88bp

Mortgage backed securities and mortgage rates had a nice day today.  They did fall from their highs as they approached resistance, and stochastic indications remain on the overbought side.  With the Fed possibly deciding to cut rates further, we could see a correction take place tomorrow.

There are some nice patterns in the charts as well.  Even if we do get a correction, those with a while before closing may benefit from floating still.

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