Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on September 26, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +9bp

There is not much more to say today, simply more of the same.  Traders are still awaiting news from Washington as to just what bailouts are going to come to fruition and then they might guess on which way the markets are going to go.

The charts still look favorable for lower mortgage rates ahead.  Once again, caution needs to be heeded as any news, even change in the wind direction, could get mortgage backed securities moving, and moving fast.  Most likely, however, is a rather boring day as Washington and the Fed like to deliver bad news over the weekend, with especially bad news being announced Sunday while everyone is in church or watching football.

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