Florida Mortgage Market – Morning Update

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

Locking Stance:  LOCKING     Mortgage Bonds:  +6bp

Today is FED DAY, meaning this afternoon will see the release of the Fed’s decision on another rate cut.  Expectations are for .25% this time as the Fed is seeing inflationary pressures kicking in.  I feel they should actually stop or even raise rates a bit.

The Chain Deflator was the news this morning that is keeping bonds afloat at this time, but the other data was benign to unfavorable for bonds.  Traders are waiting for this afternoon before the markets really get moving.

While bonds have been moving favorably lately, I am still holding that locking stance as I feel they will turn lower after the Fed’s decision.  I will be in St. Maarten when the Fed announcement is made, so I will make my next update from San Juan, PR as the market closes.

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