Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on September 22, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -56bp

It is never a good day when both stocks and mortgage bonds are down considerably.  While cash is king, when cash is flowing out of both markets is not a good sign of market stabilization, and shows traders’ confusion on which market is better.

Bonds did drop below their secondary support layer, but are now back up to it, so they may hold at this level.  The dollar is once again weakening and that is sending oil and other commodities higher.  Inflation returning?  Possibly.  Morgan Stanley and Goldman’s news of becoming banks is some of the biggest news in the markets right now. 

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