Florida Mortgage Rates – Morning Update

by Florida's #1 Mortgage Planner on June 18, 2008

Locking Stance:  SKEPTICALLY FLOATING     Mortgage Bonds:  +12bp

Mortgage bonds are up slightly today, basically because bonds are down again.  FedEx disappointed Wall Street and talk of bank write-downs up to $1.3 trillion (yes, with a T) are sending stocks lower and that money flows to bonds as a result.

Only news today is involving crude inventories, so don’t expect a lot of movement unless someone “talks up” one side or the other well.  For that reason, I am going to go back to a float, but note my skepticism as to how long the correction will last.

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