Florida Mortgage Market – Afternoon Update

by Florida's #1 Mortgage Planner on March 5, 2008

Locking Stance:  LOCKING     Mortgage Bonds: -78bp

Inflationary fears have once again taken over the markets with gold and oil hitting new highs.  ISM Services Index beat expectations reducing recessionary fears.  Adding to the issues bonds face, Ambac’s trading was halted as well.

Another bad day for bonds as they continue to drop quickly toward their 200-day moving average.  Short term is definitely favoring locking rates.  Long-term will depend on the 200-day MA level.  If it holds, things could start looking good.  If it fails, well, the pit may be bottomless.

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