Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on August 25, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +19bp

I know that mortgage bonds are at the same level as I reported earlier, but they have had their ups and downs.  The stock market is under attack again, being beaten down by nearly 250 points.  I can only wonder why bonds are not rallying more, but then again, they could be faltering also as the charts show the need.

Existing Home Sales beat expectations, and rather than focusing on the past, it could be indicative of housing finally recovering a bit.  Time will tell reality.  Oil has been up and down also today, with bonds moving in accordance. 

So long as bonds manage to hold their ground, I will recommend floating today as there is not much news and certainly no more data to move the markets.  Tomorrow may be a completely different story.

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