Florida Mortgage Rates – Midday Report

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

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +25bp

Mortgage bonds are finally showing a little strength (and I do mean little).  No doubt this move higher is fueled by Congress’s impending vote on a housing rescue bill, one which all taxpayers should be fearing since Bush’s veto threat has been dropped.  Nevertheless, I am going to switch stances to one of floating ever so cautiously.

Bonds are again moving opposite Treasuries, adding more to the argument that the 10-year will lead to wrong decisions regarding locking or floating rates and why you need to be working with a mortgage professional that watches real time MBS quotes (or be that type of professional).

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