Florida Mortgage Market – Recap

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

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +100bp

Mortgage bonds managed to gain even more strength later in the day as stocks turned lower.  The day ended with bonds up 100bp and stocks down on the day.

Goldman Sachs came out and said the Fed’s new Term Securities Lending Facility (TSLF) offers no help for the housing market.  Tomorrow will reveal the latest Retail Sales numbers and that could push bonds through their next resistance at the 50-day MA.

Speaking of resistance, bonds broke through their 25-day and 100-day resistance, a double ceiling, today.  If that momentum continues, we could easily see the testing of the 50-day MA tomorrow and possibly even see that break.  Only time will tell, but things may be better than they appear right now and with the volatility we have had, anything can happen.

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