Florida Mortgage Market – Evening Report

by Florida's #1 Mortgage Planner on August 19, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +3bp

Mortgage bonds went nowhere today, eking out a measly 3bp while the stock market tumbled over 130 points.  I didn’t mention housing earlier, but the numbers were not good, but they were essentially as expected.

Overall the feelings are mixed on inflation.  The numbers show inflation very high, the highest in 27 years, based on the last PPI, CPI and PCE (Fed’s favorite), but thoughts remain focused on oil prices having dropped.  With oil prices still lower than their peak, feelings are that inflation will moderate down the road, especially since the dollar seems to be holding its own as well.  All I can say is thank God for the global economy and the fact others are beginning to go through what the US did.

Once again, on the technical side of things, we are certainly not out of the woods yet, but there is some hope on the horizon if bonds continue to hold their ground or make some new gains.

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