Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on January 8, 2009

Locking Stance: LOCKING    Mortgage Bonds: +3bp

Mortgage bonds backed off their highs of the day as the Fed announced they are $10.2 billion into the markets right now, out of $500 billion.  If they keep this up, they might be able to keep the markets propped up for the whole year, before disaster strikes.

Barack Obama was talking up his stimulus plane and that helped traders overcome Wal-Mart and others’ bad news, getting stocks to rally a bit late in the day and that cost mortgage backed securities.

What does this mean for Florida Mortgage Rates?  Expect mortgage rates to hold fairly steady as the Fed continues to artificially inflate their value.

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