Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on October 1, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +25bp

Mortgage bonds will likely be up a bit today, but at least for now they have not managed to get back to their prior support layer and until they can do that, chances are they will falter. 

The ADP Employment report was released and showed a projection of a better than expected jobs report, but remember that this “projection” is often wrong, such as last month.

The major player in data today is the ISM Index due out at 10 am.  Since bonds had their support fail yesterday, odds are back to locking unless they can manage to get back above that support layer and the ISM Index and trader sentiment will determine if that will be possible today.

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