Florida Mortgage Market – Morning Update

by Florida's #1 Mortgage Planner on March 11, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -25bp

Mortgage bonds are once again dropping to test their 200-day moving average, which has been holding up so far.  So long as this level holds, cautiously floating may be in your best interests if you can stomach the volatility.

Once again, not much happening on the economic agenda today.  However, the Fed is up early to spread the news that they are going to throw more cash into the fire, trying to improve liquidity and ease the credit crisis. 

Stocks are up today, but are hitting resistance around 12,000, so they may back off a bit, which could allow bonds to muster a little more strength.  That should at least help them stay above the 200-day MA and will keep us in the same stance for now.

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