Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on November 20, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +12bp

It is actually more mid-afternoon, but the story hasn’t changed much.  Another day of up and down movements, but mortgage bonds remain off their highs again.  The Big 3 auto makers begging for money are set away and told to comeback flying coach with a new plan and then they can get their money.

Oil fell $5 and is below $50 now, and stocks are holding their own, the DJIA down only 80 right now.  Treasuries are still in full rally mode, up 178 basis points currently.  MBS still fairly flat, but odds remain that mortgage rates will move higher over time, at least for now.

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