Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on October 21, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -9bp

Well, as I said yesterday, mortgage backed securities would have to keep climbing to make the future look brighter for the long run, and that does not appear to be happening at the moment.  The day is young, so that push higher may yet be seen, but it will have to be an emotional push or based on news as there is no data slated for today.

There will be numerous big names reporting earnings today and they are expected to disappoint traders, which will bode well for mortgage bonds typically.  Dupont and Texas Instruments have already reported their disappointing earnings, so we should see bonds rebound and maybe make some gains as is needed.

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