Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on January 8, 2009

Locking Stance: LOCKING    Mortgage Bonds:

Greetings from way down south again, coming to you from Rio de Janeiro, Brazil.  In case you were wondering why I didn’t get off an evening report last night, you can see now that I was a little busy.  To sum up yesterday, we had a pullback as expected, then bonds moved higher, even into positive territory for a while, before ending the day down 9 basis points.  Chances are, as we have been seeing, is the pricing isn’t improving much, if at all, as lenders are keeping the profits to hedge against increased risks.

Today we will see the Initial Jobless Claims data, which could add some fuel to the fire.  More news about troubled companies, threatening the economy overall, are hitting the airwaves, such as Dell axing 1,900 jobs, although those jobs are in Ireland.  Nevertheless, stock futures are pointing to a lower open.

What does this mean for Florida Mortgage Rates?  Once again, mortgage rates will likely remain steady with the possibility of a slight move lower if lenders will pass on some of the savings.  I will get back to you after I get some sleep with the jobs data.

Leave a Comment

Previous post:

Next post: