Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on September 30, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -41bp

Mortgage bonds are about at their worst levels of the day, but support is still holding at the moment.  So long as support holds, floating will be the better option for the long run as I have mentioned already.

There is really not much more to add as trading sentiment remains rather confused and emotions are adding to the problems.  LIBOR was through the roof earlier hitting at least 6.88% for overnight rates.  ARM holders with any LIBOR as an index need to pay close attention to its movement if their adjustment period is approaching.

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