Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on August 27, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +9bp

Mortgage bonds are not moving, basically as I expected, so I am holding my stance for now.  The market will likely lie in waiting for tomorrow’s read on the economy with the GDP and Chain Deflator, along with Initial Jobless Claims, all due out at 8:30 am ET.

If we see a continued weak economic report, bonds may push higher, at least testing resistance, but any signs of strengthening will almost certainly send bonds lower.  Friday will present the best read on inflation, as the PCE report hits the airwaves, so expect the market to move that day as the week comes to a close.

As for the rest of the day, unless some big headline hits the airwaves, bonds will likely not see much movement for the remainder of the day.

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