Florida Mortgage Market – Morning Update

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

Locking Stance:  LOCKING     Mortgage Bonds:  -3bp

A funny thing happened on the way to the markets yesterday.  Ok, not really, but bonds managed to break above their 25-day moving average yesterday and I almost switched stances.  Why almost?  I figured today’s Initial Jobless Claims data would likely beat them back down, so why present false hope.

As I expected, the data this morning was better than expected and stocks are poised to have a good day (bonds rose because bonds took a dive).  That means that the 25-day moving average may not become support and the “squeeze play” may still be on.

Anything can happen, of course, so check back regularly and I will try to get that Twitter Feed going steady.

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