Florida Mortgage Rates – Floor Failed?

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

Locking Stance:  LOCKING     Mortgage Bonds:  -66bp

It appears the floor has failed, though it will take a day or two to solidify that.  It would also require bonds to close lower below that support today, which looks like will happen.

As I have been mentioning for the last two days, odds favored bonds breaking out to the downside and why I was advising locking even with bonds ticking slightly higher yesterday.  Unless bonds can muster some strength and climb back above their support layer, the “trap” may be broken and bonds could could be heading lower for the near term, sending mortgage rates a bit higher.

{ 1 comment… read it below or add one }

Cathy October 28, 2008 at 3:42 pm

Good words.

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