Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on August 12, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +28bp

Mortgage backed securities managed to tick up slightly as the day progressed, but certainly not enough to change stances.  The battle between recession and inflation pressures continues as economic troubles edged out inflationary expectations today.  Even the Fed has opposing views hitting the airwaves today.

As the day winded down, it was clear that stocks had been beaten down and that allowed bonds to make some gains.  Looking at the “big picture”, the future does not look bright for mortgage rates, at least not yet.  Tomorrow may place another nail in the coffin and breathe new life into mortgage bonds as Retail Sales kicks of the larger battles this week in the inflation versus recession war.

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