Florida Mortgage Rates – Evening Report

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

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -3bp

Mortgage bonds were down from their opening today, but support held as expected.  All eyes focus on the bailout plans that will likely be announced Sunday (guarantees bad news for taxpayers). 

Data has been favorable to bonds, so I see no point in locking right now, but that will depend on the market’s reaction to exactly what the government does for their next “intervention.” 

Next week will start of with the weekend news, but also a huge bit of data, the PCE.  That means that the future of mortgage rates, at least for the near term, will likely be decided on Monday.  Stay tuned and have a great weekend.

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