Florida Mortgage Rates – Market Closed Report

by Florida's #1 Mortgage Planner on September 8, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +100bp

If you read my earlier reports, you knew there would be a retracement at some point and that pullback would be at least 1/3 of the rally.  Guess what happened?

Yes, we were up 150bp+ and now we closed at up 100bp, a 33% pullback from the top of the rally.  Scary how this stuff works, isn’t it?

Now, as we go into tomorrow, there could still be more pullbacks as the 33% figure is a minimum.  I will be watching very closely as the day progresses to keep you informed as to what is happening, but for now, I remain in a locking stance, awaiting better news.

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