Florida Mortgage Market – Morning Update

by Florida's #1 Mortgage Planner on April 18, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -47bp

Mortgage bonds managed a comeback yesterday, but we expected it to be short lived, which today proved it was.  While bonds ended the day up 6bp, by the time the first lender was ready to price today, bonds were down 56bp.

The reason for the drastic drop was not for economic data as there is none scheduled for today, rather it si all about the earnings, namely Google.  Google, along with Caterpillar and Honeywell, beat earnings expectations and Citigroup, though reporting a loss, could have been worse.  Bonds are falling as stocks are expected to rally.

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