Florida Mortgage Market – Morning Update

by Florida's #1 Mortgage Planner on April 2, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -25bp

Yesterday saw bonds drop and retest their support layer at the 50-day MA.  They have again dropped below this layer and are struggling to get back above it today.

Bonds are heading lower today are inflation concerns expressed by Bernanke.  Additionally, stocks are again moving higher after a huge gain yesterday, pressuring bonds even more.

Bonds have another support layer just below their current levels, so the move lower may be minimal.  However, if these layers break also, bonds could be in for a big move down.

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