Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on August 5, 2008

Locking Stance:  LOCKING      Mortgage Bonds:  +16bp

Today is “Fed Day”, so we will see if they will finally raise rates and help mortgage backed securities, but I rather doubt it.  The only good thing was that yesterday’s PCE data showed inflation growing, so maybe they we heed the warnings.

Bonds are up right now as oil prices are dropping again, but that may be another sign the Fed will hold their stance on rates again.  I am going to hold that locking stance until this afternoon at least, that is unless an interesting pattern forms in the charts earlier.

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