Florida Mortgage Market – Recap

by Florida's #1 Mortgage Planner on April 7, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  -12bp

Mortgage bonds had an interesting day.  Stocks rallied at the open, then the fear factor took over with commodities winning the money game, sending bonds lower, down around 56bp.

Bonds gained strength, though, and while their were many rushing to lock, patience proved beneficial as bonds mustered back to down 12bp on the day, which was 22bp higher than when many lenders priced.

Moving into tomorrow, floating will likely be worthwhile.  That may change when the FOMC Minutes are released as inflationary fears could take hold again since there were 2 dissenting votes the last run.  We will keep you posted as the day goes on.

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