Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on October 21, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +16bp

Mortgage bonds have been able to muster strength as stocks drop as more and more dismal earnings are released.  Finally, some semblance of a typical trading day as stocks drop and mortgage bonds rise.  It is, however, way too early to say emotions are not in control anymore.

Mortgage backed securities are now hitting resistance, but have pushed through many resistance layers in recent days.  If they can continue their push higher and break out above their last peak, the charts will be looking good again.  If they fail, then things could get ugly again, quickly.

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