Florida Mortgage Market – Afternoon Update

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

Locking Stance:  LOCKING     Mortgage Bonds:  +103bp

Mortgage bonds have been acting like a yo-yo today with them testing their 200-day moving average from both sides.  They have kept going back and forth across this level and are currently just above it.

We remain in a locking stance as there is no clear direction yet and the risk/reward ratio is inconclusive.  We have seen re-prices for the better, followed by re–prices for the worst as the day has progressed, and just like you shouldn’t "time the market" with investing, neither should you try to "time" your lock today, just do it.

As the day comes to and end, as does the week, we will make changes appropriately and begin to look ahead to next week.

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