Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on December 5, 2008

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: -38bp

Mortgage bonds ultimately had a rough day, being down considerably and even ending down 38 basis points on a day when they should have rallied.  Where have we seen that before?  Oh yeah, last month.

I have been saying that short term, Florida Mortgage rates were still likely to move slightly higher, but long term remains optimistic for lower mortgage rates.  That picture is a little shaky after today’s move and yet another failure to rally on bad news, but so long as support holds, so does the mortgage rate outlook, especially with Paulson so desirous of 4.5% mortgage rates.

I will get more into what has happened and just what I expect for the future in my weekly Mortgage Market Update over at Lenderama, which I hope to post early Monday morning, this time from Santa Cruz, Bolivia. 

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