Florida Mortgage Rates – Midday Market Report

by Florida's #1 Mortgage Planner on September 16, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -25bp

The market is not down significantly, but it is rather disturbing that the market is down with good news on inflation.  As I mentioned in this morning’s mortgage rates report, bonds were OK as long as they held above their support, but that support is now in question. 

Also, I mentioned that the Fed will most likely decide on another .25% cut in the Fed Funds Rate.  As is typical, mortgage rates move opposite of what the Fed decides to do with the Fed Funds Rate.  That means that since the Fed will likely cut rates, so locking is in order to protect yourself from that potential move.

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