Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on October 27, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -3bp

Mortgage bonds should be pushing higher as stock futures are down, though they are rising off their lows.  There is little in the way of data today with only New Home Sales entering the picture for trading today.  All eyes are focusing on Wednesday already as traders prepare for the Fed’s next rate cut decision.

Oil is falling, along with global stocks, and the Feds are entering the commercial paper market as they add yet another lending facility to bailout the markets.  Trying to keep up with all of the acronyms on lending facilities by the Fed?  You are not alone as they continue to flood the markets with money, sorry, liquidity.

Don’t forget to check out Lenderama and read this week’s Mortgage Market Update.  In the update, I expand on where I think Florida Mortgage Rates will be headed this week.

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