Florida Mortgage Market – Midday Update

by Florida's #1 Mortgage Planner on April 8, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -12bp

We are going to switch to a locking stance for now as bonds are off their highs and the release of the FOMC Minutes may push bond prices lower this afternoon.

We are at the beginning of earnings season, which can move money back and forth between bonds and stocks, so we may see some volatility depending on what earnings show.  With the TAF seeing less interest from banks, the feeling that the crisis may be coming to an end could also effect the markets.

The big event of the week is scheduled for this afternoon, which is the release of the FOMC Minutes.  This report is the unedited version of what the Fed’s thoughts were as they came to their last rate cut decision.  This insider’s look has moved markets before and could do the same today, so look for the market’s reaction after 2pm.

Leave a Comment

Previous post:

Next post: