Florida Mortgage Rates – FED DECISION

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

Locking Stance:  LOCKING     Mortgage Bonds:  0bp

As luck would have it, the airplane broke and I am able to report immediately on the Fed’s decision, so here it is, fresh off the presses…

FED DECIDES TO LEAVE RATES UNCHANGED

Ok, that is really not major news, but it does present a problem for bonds.  Since inflation has been climbing and they left rates unchanged, it proves they do not care about inflation and remain more concerned on bailing out lenders and financial institutions.

All in all, their decision spells more bad news for mortgage bonds, and mortgage rates.  I will report more on the market later after we find out what is going on with the flight or get to the hotel.

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