Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on November 17, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +3bp

Mortgage bonds traded mostly flat on the day, except for a little up and down action at the beginning of the day.  News and data couldn’t get them to make much of a move, and even when stocks went tumbling again, mortgage bonds failed to rally.

Once again, looking at the charts, bonds failed to climb above their 200-day moving average and that is not favoring lower Florida Mortgage Rates in the future.  Tomorrow will see the first look at inflation with the release of the Producer Price Index.  It is not normally a major player in the markets, but maybe we can finally get bonds at least moving one direction or the other.

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