Florida Mortgage Rates – Market Recap

by Florida's #1 Mortgage Planner on September 23, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +12bp

Mortgage backed securities performed much like I expected today with them barely gaining any ground, and, in fact, losing some ground as the day progressed.  Market confusion about the bailout program and its effects left traders uncertain as to the direction the markets would be headed.

It was another day where news and emotions controlled the markets and that is never a good time to float.  Data does start flowing again tomorrow, but you can expect the data to remain in the backseat most likely as traders still try to figure out what to make of the whole bailout program.

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