Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on August 5, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -6bp

Mortgage bonds are again faltering, pulling off their highs of the day and placing some lenders in positions to reprice for the worse.  Stocks are having a heck of a day, up over 200 points.

Once again, today is “Fed Day”, so we are now T minus 1 1/2 hours until the announcement of their decision.  I will be in the air when they make that announcement, so I will report on it upon arriving at my hotel tonight.  I fully expect them to hold rates, but again caution they will start raising rates before the end of the year.

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