Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on September 22, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -56bp

It appears that it will be another “Manic Monday”, and mortgage backed securities are already down this morning.  It makes me wonder why some have been saying to “float” lately, though floating has not caused much pain as bonds have always managed to get back to their support.  However, the chart clearly shows weakness as I have been mentioning.

Plenty of news hitting the airwaves again and without data being released, news and technicals will drive the markets.  Since the news favors stocks, you can bet mortgage bonds will be under pressure.  I will get more details out as the day goes on, but now I have to get the Mortgage Market Update for this week done for Lenderama.

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