Florida Mortgage Market – FED UPDATE

by Florida's #1 Mortgage Planner on April 30, 2008

The Fed came out this afternoon with the .25% cut as expected.  They finally changed their viewpoint some as they basically stated that this rate cut will be the last one, at least for the foreseeable future.  As a result, mortgage bonds are actually trading higher, despite the rate cut, so I am changing my stance to a floating one as bonds break through resistance layers and look poised to gain some ground.

I am still keeping caution out there as inflationary gauges are coming out tomorrow, and that could easily take the wind out the sails.  Once again, for now, I am switching to a floating stance.

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