Florida Mortgage Market – Recap

by Florida's #1 Mortgage Planner on April 15, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -53bp

Mortgage bonds took a beating today as inflationary fears gripped the markets.  They did try to gain strength and bounce off their 50 and 100-day moving averages, a double floor of support, after falling through their 25-day MA.

Bonds need a lift from somewhere in order to maintain strength and keep from entering a freefall.  Could that strength come from tomorrow’s CPI report?  We rather doubt it, but we will know for sure at 8:30.

There is some good news to report though.  Stochastics are no approaching an oversold situation and we are getting ready to announce the syndication of the Florida Mortgage Daily, so if you are interested in seeing these posts on your blog, please contact Robert Ashby.  In the meantime, don’t forget to check back here early tomorrow to find out how the markets are reacting to the next set of inflationary data.

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