Florida Mortgage Rates – Special Report

by Florida's #1 Mortgage Planner on October 3, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -19bp

Bond pricing continues to be all over the map after the House voted in the bailout bill about 45 minutes ago.  Prices once again rose to retest their 25-day moving average, only to be beaten back down.  Certainly, if bonds cannot break back above this level today, mortgage rates are in trouble.

Currently, the charts remain in a negative pattern, so odds favor locking your loans right now.  The question will be whether or not bond prices can climb back above their 25-day moving average, but so far, they have been unable to do so after repeated attempts today alone.  Once again, if bonds fail to regain their ground, the future of mortgage rates will point to higher mortgage rates for the foreseeable future.

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