Florida Mortgage Market – Recap

by Florida's #1 Mortgage Planner on March 20, 2008

We were unable to provide guidance throughout the day unfortunately, as does occasionally happen.  These cases are very rare, as you are well aware of if you have been following us for a while.

Looking back at today, we would likely have not changed our stance anyway.  Mortgage bonds were up, again testing resistance, then fell back down.  Bonds still ended up closing flat on the day, but were off their highs, causing many to rush to “lock”. 

Tomorrow is another day and we remain in a cautiously floating stance until bonds show they are going to drop from these levels and retest  their support, well below current levels.  Stochastics still show overbought, but bonds are still showing some strength.

Check back tomorrow as we will be providing updates again.  Tomorrow is a short trading day (Good Friday), so the markets will be closing at 2pm.

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