Florida Mortgage Rates – Market Recap

by Florida's #1 Mortgage Planner on September 19, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -50bp

Once again, there was no data released today, but there was plenty of news surrounding the massive bailout plan.  The only thing I have not seen yet is real numbers as to how much it is going to cost you and I. 

With only news driving the market, emotions play a large role in market movement, though technicals also shape the results.  As I have been saying for the last few days, odds favored bond prices dropping and mortgage rates ticking higher.  So far, this support layer has held, even with bonds closing down 50bp today, they rest right on this support.

That means going forward into next week, bonds are holding their ground and remain locked in their trading range, which means we could yet see rates continue lower in the future.  However, the likelihood is the will not improve much, if at all, at least until some major catalyst breaks the mold.

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