Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on December 10, 2008

Locking Stance: CAUTIOUSLY FLOATING    Mortgage Bonds: +34bp

Mortgage bonds are pushing up against their resistance levels today, trying yet again to break through to close at the highest levels seen in over two years.  Crude Inventories were reported greater than expected and the ensuing drop in oil prices is helping lift mortgage bonds.

The Treasury auction is next on the list of market impacting news, to begin at 1pm.  The auction yesterday proved beneficial to the mortgage markets, so we may see mortgage bonds break out to new heights today, if not waiting until tomorrow or Friday’s news.

What this all means for Florida Mortgage Rates is that we may see them take a plunge sooner than expected.  They could certainly turn the other way and rise again, but for now it looks good to keep floating long term.

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