Florida Mortgage Daily – Afternoon Update

by Florida's #1 Mortgage Planner on March 4, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -75bp

For now, we are giving up hopes that the markets will turn around for the better.  Why?  Loose Lips Fisher of course.

Fed Fisher opened his big mouth again and talked up inflationary fears, even why his colleagues were trying to put out the fires, downplaying inflation.  The end result, however, is the downward trend of mortgage backed securities, so lock those loans if you haven’t already.

Bonds are now back below their 100-day MA and if that support doesn’t yank them back higher, they will certainly drop and retest their 200-day MA, a support layer than has held up for now.  Short term doesn’t look good and we are done speculating about the future until we see what happens later this week.

{ 1 comment… read it below or add one }

Tony Gallegos March 4, 2008 at 11:15 pm

Robert – Really like you knew look that will match your considerable blogging skills!

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