Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on December 30, 2008

Locking Stance: LOCKING    Mortgage Bonds: 0bp

Once again, this report is coming to you before the market opens.  The reason this time is that my flight from Sao Paulo, Brasil last night was canceled and I am going to be on an airplane back during the trading day, unfortunately.  I will try to get an evening report to recap the days events when I get home.

There is some news that already may affect the market and that is that GMAC got a cash infusion despite yesterday’s news.  It is another demonstration of our government’s determination to continue handing out money, with $5 billion going to GMAC (GM’s finance division) and another $1 billion may be on the way. 

As far as data goes, only Consumer Confidence is slated for release today.  It will be released at 10am and is expected to show a slight improvement over last month.

What does this mean for Florida Mortgage Rates?  From the news and possibly even from the data, we can expect stocks to be up today, possibly sending mortgage rates slightly higher.

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