Florida Mortgage Daily – Week in Review

by Florida's #1 Mortgage Planner on April 7, 2008

Last week was yet another volatile week.  The end result was mortgage backed securities ended the week about 41bp higher, letting mortgage pricing improve slightly.

The week was off to a running start early Monday morning, but fizzled quickly, turning lower Tuesday and Wednesday.  Fortunately, the 50-day MA proved a solid floor and bonds bounced back higher, especially Friday, after very ugly jobs data.

Not only was March’s job loss the worst in five years, the previous months were revised lower.  Other job data released was favorable to bonds as well, allowing bonds to end the week higher.

Bonds remain definitively in a sideways trading range right now, but what lies ahead?  To get an idea, check out the upcoming Forecast for the Week.

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