Florida Mortgage Market – Morning Update

by Florida's #1 Mortgage Planner on May 23, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +19bp

Bonds rebounded yesterday and are up some today as inflationary pressures ease (oil price dropped from highs) and recessionary feelings took over.  I doubt think it is time to feel all warm and fuzzy though.

Bonds are still below their 25-day, 50-day, and 100-day moving averages at this point.  They will likely test at least some of these today, but I doubt they can muster themselves back above them, meaning the odds favor a turn lower either later today or next week, barring any catalyst that gives them strength.

Today is a shortened trading day, and that means any moves are left questionable due to lower volumes as well.  So, if you haven’t locked already, you probably should take advantage of better pricing this morning, as it may be short-lived.  Have a great weekend.

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