Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on October 27, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -50bp

Mortgage bonds are under selling pressure again today as stocks have rebounded from their lows and added supply from auctions are hitting the markets.

New Home Sales came in better than expected, up 2.7%, and talk of the bottom in housing is flying around.  Of course, calling the bottom right now, while it may be, is still premature.

Technically, as I mentioned in my morning report, odds favored mortgage bond pricing to continue lower, sending Florida Mortgage Rates higher.

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