Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on August 6, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -25bp

Mortgage bonds managed to rebound from their lows today, bouncing off their support layer I mentioned before.  Freddie Mac’s loss helped to send bonds lower, but a better than expected 10-year T-Note auction gave bonds the boost they needed to get back to only 25 basis points down for the day.

Tomorrow holds the last bit of scheduled data to get bonds moving in the form of the Initial Jobless Claims.  Lately, this report has been beating expectations.  If it does so again, bonds will certainly head lower.  If not, we see some strength return to bonds to end the week.

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