Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on September 30, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -6bp

If you are coming up for closing in the next few days, locking may be in order to protect yourself, but I feel that floating is better for the long run.  We may lose a bit of ground today as stocks will likely retrace some of their losses as Paulson scrambles to salvage what he can of his bailout plan that the House axed yesterday.

Chicago PMI will be the big data player today and will be released in about an hour.  I will try to get an update shortly after the release, but I have a meeting at the same time.  I will get one up for sure if things go south quickly.

For now, the charts are still painting a nice picture for lower mortgage rates in the future.

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