Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on November 13, 2008

Locking Stance:  CAUTIOUSLY FLOATING    Mortgage Bonds:  -12bp

Mortgage bonds have not moved much either direction, though they are down slightly on the day.  I feel that unless we get a major move, floating into tomorrow’s Retail Sales report may be the best course of action. 

Of course, things can change quickly in this environment, so do not drop your guard.  Be ready to lock at a moment’s notice.  If the Retail Sales disappoints tomorrow morning, and traders react positively, we may see a breakout of the trading range finally and may be looking at lower Florida Mortgage Rates.  Just keep in mind that technical indications do not show that happening.

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