Florida Mortgage Market – Recap

by Florida's #1 Mortgage Planner on March 13, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -31bp

Mortgage bonds had a down day, though they were up well off of their lows.  Bonds had taken a nosedive at the start, but Retail Sales helped keep their downfall minimal. 

The main reasons for the drop was Carlyle Capital’s imminent bankruptcy.  Since many hedge funds and lenders are facing margin calls that they cannot handle, insolvency is a major issue in the markets.  Additionally, the recent Fed action’s impact is being realized and shows it to not be as helpful as the market may have thought (or hoped).

With the CPI due out in the morning, we go into the night remaining in a locking stance as the CPI numbers could send bonds lower at the start.  Check back with us in the morning to see where bonds are headed on the news.

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