Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on July 17, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -56bp

There is a good chance lenders will be repricing for the worse shortly as bonds drop to their lowest levels of the day.  Philadelphia Fed Index came in a little worse than expected, but bonds continue to falter after a brief uptick.

A couple of negative patterns have formed in the charts, and all indications are that bonds will continue to drop to at least retest their lows of last month.  Beyond that, we may see a correction of sorts, but the general trend points to lower bond prices, which means higher rates for the foreseeable future.

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