Florida Mortgage Rates – Midday Report

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

Locking Stance:  LOCKING     Mortgage Bonds:  -31bp

Mortgage bonds are still holding just above support, which is good as it will prevent further deterioration of pricing if it holds.  Beyond that, they remain “trapped” in a tight trading range for now.

There is yet another warning about the future of mortgage rates.  The DJIA (DOW) has reversed course from earlier huge gains to now being down.  This move typically would send mortgage bonds higher, yet it hasn’t.  That is another sign that mortgage backed securities remain weak.  Oil has reversed its course as well, now down slightly as well.  Gold, however, is climbing.

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