Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on August 18, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +6bp

I see no reason to change stances right now as mortgage bonds show no signs of any real movement.  No data released today places news as the “guiding light” and there hasn’t been much unexpected news.

Fannie Mae and Freddie Mac will be bailed out by the US Treasury, as expected, according to a Baron’s article and oil is ticking a little higher again.  Beyond that all is quiet for the most part.  As I have said before, the bailout of Fannie and Freddie will cost taxpayers and the Barron’s article shows that to be true, at least for stockholders, as the bailout will wipe out common stock.

I am now heading to Dallas and will be in the air just about the remainder of the trading day.  I will give my standard recap report once I get to the hotel.  Until then, happy Monday and for those of you in South Florida, stay dry if you can.

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