Florida Mortgage Market – Afternoon Update

by Florida's #1 Mortgage Planner on March 11, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  19bp

Mortgage bonds are on the move higher, now up 19bp and 44bp higher than our morning report.  Interestingly enough, this is with the Dow Jones plowing through the +400 mark.

A lot of the movement is based on the Fed’s decision to dump more money into the system.  We will take the gains as it is not normal for bonds to be higher when stocks are also higher, especially with this big a move in the stock market.  It is also interesting to see bonds climbing with oil hitting record levels.

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