Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on October 29, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +31bp

Mortgage bonds have not done a whole lot since this morning’s report, though they are down slightly from then.  Everyone is waiting for the rate cut decision by the Feds, due to be released in just over an hour.

Mortgage backed securities hold just above some support, though the decision may send them crashing through the floor.  Why?  A rate cut decision typically sends mortgage bonds lower, thus Florida Mortgage Rates higher.  Of course, FMD will report on the markets shortly after the release of the Fed rate decision.

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