Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on September 9, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +9bp

Mortgage bonds managed to end the day up slightly.  Those of you looking at charts that show -19bp for the day need to adjust for the 28bp bond roll over effect.

Basically, there was nothing new to add except more arguments over Pending Home Sales data being bad.  Depending on your viewpoint, it can be bad (year over year) or show signs of improvement (not as bad as last month).  The sentiment was that the government takeover of Fannie Mae and Freddie Mac would ultimately do nothing for housing.  I tend to lean towards the feeling it will make things worse.

Data starts flowing tomorrow, but there is no “major” data until the end of the week.  Technicals are kicking back into play and we may be in for a rough week ahead.

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