Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on August 26, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +12bp

Mortgage backed securities are looking fairly well right now, with the only real negative indication being the stochastic “overbought” signal.  With no surprises in the data today, even the FOMC Minutes siding more with a faltering economy, bonds inched higher on the day. 

With bonds now in the middle of support and resistance, they could go a relatively far distance either way on data and/or news.  With tomorrow’s data not containing any major players, I am holding the cautiously floating stance and waiting to see if hurricane fears, dollar valuation, or any headline news can send the markets into a real rally or show them faltering.

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