Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on August 4, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -9bp

Mortgage backed securities look poised to crash today, having opened lower and data shows inflation on the rise, again.  I have been warning about inflation ever since the Fed started cutting rates, and here it is.

PCE was released this morning and it shows year over year inflation at 2.3%, up from 2.1% last month.  It did, however, come in along with expectations.  Adding fuel to the fire was the fact that both Personal Income and Personal Spending beat expectations also.

More coming up at midday, but for now, lock those loans.

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