Florida Mortgage Market – Morning Update

by Florida's #1 Mortgage Planner on May 12, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  0bp

I went back to a locking stance and hopefully you did before re-pricing took place Friday.  Since I was stuck in the air, I was able to get a timely report off, but I did warn you as well.

Today will not see much movement except that driven by stocks, so I am still skeptical about which direction bonds will go since they are back in the squeeze play of converging moving averages. 

Check out the Mortgage Market Update over at Lenderama for the review of last week and forecast for this week since I am again flying today and will not have time to do them.  As far as the week goes, though, I am favoring locking as I think the odds are a breakout lower, sending rates higher.

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