Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on November 12, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +19bp

Mortgage bonds are trading higher after yesterday’s drop in the stock market and its continuation today on the heels of Macy’s and Best Buy reporting lower earnings.  We still have about a half hour before stocks open, so mortgage backed securities could run a bit higher, or this could be the high for the day already.

Looking at the charts, the odds still favor mortgage bond pricing dropping over time and that means Florida Mortgage Rates will likely be heading higher, probably hitting their recent highs again.  Just like last week’s jobs report being the possible “savior” of mortgage bonds, Retail Sales this Friday will be the potential one this week.

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