Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on October 30, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -3bp

Boring is the only way to truly describe today’s movement in comparison to recent trading days.  That being said, we will take boring over any freefall like we have been seeing in the mortgage bonds’ pricing.

There is not much else to mention that I haven’t already, except that Hong Kong’s central bank cut their rate 50 basis points and that Taiwan was less generous, cutting only 25 basis points.  The rumor mill is full of talk about Japan cutting their rate and we know that the European Central Bank and Bank of England will most likely cut their rates next week.  These rate cuts are all part of the continued global effort to fix the financial market mayhem.

Mortgage backed securities are showing at least a hint of life and we can only hope they will manage a rally of sorts, even if short lived.  You can expect Florida Mortgage Daily to provide timely guidance during that move as it has in the past.

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