Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on November 10, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -28bp

I was unable to do my regular reporting since I was performing my flight checkride and that requires a determined focus, leaving emotions and other things aside until its completion.  That ride this morning, followed by a rush to catch a flight, ending up keeping my offline until now.

Nevertheless, mortgage bonds acted much like expected, though they were only down slightly today.  Most of the drop you see above stems from the monthly bond rollover, which caused a -22bp adjustment this time, so mortgage backed securities were only down 6bp in reality.  That’s not bad considering we had a shortened trading day.

The markets will be closed tomorrow in observance of Veteran’s Day, so I will only be posting a salute to our veteran’s tomorrow and I hope you take the time to honor them as well.

Also, I finally got my weekly mortgage market update posted at Lenderama, so take a moment to check it out for more insight on where mortgage rates are likely headed this week.

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