Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 14, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +31bp

Mortgage bonds will likely have a good day today as headlines show both Freddie Mac and Fannie Mae stand to be bailed out "if needed" by the Federal Reserve.  There is no data slated to be released until tomorrow, so bonds stand to gain some ground today.

Technically, the overall downtrend remains in place, so a locking stance may be in order shortly.  Hopefully, data being released starting tomorrow will be bond friendly and we will be able to stay in a floating stance, but I remain skeptical. 

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