Florida Mortgage Market – Midday Update

by Florida's #1 Mortgage Planner on March 12, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +59bp

Mortgage bonds continue their move higher and as we suspected could happen, bonds are testing their 25-day and 50-day moving averages, currently trading in the tight gap between the two.

Stocks are up slightly today as well, marking two consecutive days where both stocks and bonds traded the same direction, rather unique indeed.  So, where will bonds rest at the end of the week?

The story will likely wait until tomorrow to unfold as Retail Sales comes in.  Bonds could push higher after the news.  Then, Friday’s CPI report hits the airwaves possibly sending bonds lower.  Stay tuned as the market reacts to this news tomorrow, but don’t forget that we still have a few more hours of trading today.

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