Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on October 1, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +41bp

Mortgage bonds traded higher today as stocks were under some pressure.  As the day wore on, stocks managed to rebound to basically flat and bonds held their ground.  However, bonds remain well below their failed support layer (25-day moving average) and that is starting to become resistance now as bonds tested it and fell back.

The only report scheduled for tomorrow is the Initial Jobless Claims which has been coming in higher than expected lately.  Friday is the big day and mortgage rates may be stagnate tomorrow as traders await Friday’s jobs data.  Then again, emotions are running high and uncertainty remains in the marketplace.

Time is the only thing that can tell for sure, but the future of mortgage rates should be seen by the end of the trading week.

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