Florida Mortgage Rates – Morning Market Report

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

Locking Stance:  LOCKING     Mortgage Bonds:  +7bp

Mortgage bonds are sitting around that second support layer I talked about yesterday, and have managed to fight off a drop, edging out a slight gain, to bring themselves back above this level.  Looking at the charts for today, locking is the better bet, at least for the moment, despite their current level.

As I mentioned yesterday, the data released does not typically play a major role in the markets.  That data consisted of this morning’s Housing Starts and Building Permits, both considerably lower than expected.  In fact the numbers brought to a 17 year low and a 26 year low respectively.  Those numbers clearly do not point to a robust housing construction outlook.

The only other report due out today is Crude Inventories, which drives markets by fueling price changes in oil.  If you have been watching the markets lately, there has been a close tie to oil price changes and market changes, so this data may spark a move.

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