Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on August 25, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +19bp

I just posted the latest Mortgage Market Update at Lenderama, so don’t forget to check it out.  In the meantime, here is the skinny for today.

Bonds managed to close last week above their 50-day average and with technicals giving a mixed picture, along with a basic lack of data today (except Existing Home Sales), we can expect that momentum to continue today, meaning mortgage backed securities should have a good day.  Of course, the headlines could change that, maybe even from the data release today.

There are still some obstacles in the way for a long term trend change, but things look good for today at least.  I will get back to you if things change.

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