Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on November 18, 2008

Locking Stance:  CAUTIOUSLY FLOATING    Mortgage Bonds:  +16bp

Mortgage bonds did manage to end their day higher, but were off their highs of the day.  While I am going to carry the cautiously floating stance into the morning, I am of the belief that tomorrow’s CPI data will reveal inflation remains somewhat uncontrolled and that bonds will likely falter as a result. 

Since mortgage rates will not change in pricing until tomorrow morning, floating through the night only carries the risk of bonds tumbling out of the starting gate, which may get you to lock tonight if you don’t want to risk it.  I will get a post off fairly quickly after the release of the CPI data and indicate any changes in my stance. 

Keep in mind that today’s core PPI data was twice what was expected and that could drive Florida Mortgage Rates higher even before lenders price for the day.

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