Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on December 31, 2008

Locking Stance: LOCKING    Mortgage Bonds: +28bp

Mortgage bonds managed to rally for a while this morning, but it fizzled out later on.  in a shortened trading day and the third volatile day in a row where bonds reversed direction, bonds had been up as much as 56 basis points, but ended the year only up 28 basis points from yesterday, unable to break away from their 10-day moving average.

Besides the Fed’s announcement yesterday and this morning’s mixed bag of news from the Initial Jobless Claims data, bonds did fairly well overall.  With trading ending at 2pm, the year completed with mortgage rates just slightly higher than their lowest levels.

What does this all mean for Florida Mortgage Rates?  Mortgage rates are going to remain steady into 2009, as expected.  Odds had been quite favorable for higher mortgage rates, and the fundamentals continue to favor that direction. 

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