Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on September 26, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +3bp

Looks like another day of mortgage bonds just hanging on as support climbs to meet them at the current pricing level.  The 25-day moving average is almost at their current support, creating a strong floor that will take a lot to break.  Translation…odds favor better pricing and lower mortgage rates based on the charts.

As far as data goes, all were basically in line with the GDP, Chain Deflator and Consumer Sentiment all coming in slightly lower than expectations.  President Bush was speaking and stated he would get a rescue bill passed.  Stocks are rebounding from their earlier losses caused by WaMu’s failure and doubts surrounding the bailout.

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