Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on October 1, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +50bp

Mortgage bonds are up a little more than the prior report, but that was to be expected after there huge fall yesterday.  They do, however, remain below their prior support and that is a major problem moving forward and the reason for locking.

The ISM Index came in lower than expected, bringing in more favorable data when it comes to where mortgage bonds should be headed.  Unfortunately, even this data is not able to get bonds back on their feet.  All eyes will be on Friday’s jobs data as that data will likely solidify the direction Florida mortgage rates will be headed.

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