Florida Mortgage Market – Recap

by Florida's #1 Mortgage Planner on March 6, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -103bp

Mortgage bonds took a major beating late in the day even though stocks were getting clobbered as well.  Record oil prices and inflationary fears gripped the markets causing a major selloff. 

Bonds did manage to get close to their 200-day moving average before their wings got clipped.  However, that "W" looking formation we hoped would finalize is now just a memory as a head and shoulders (very bearish) pattern appears to be forming.

Today was another good day to drive home the fact that if you are working with a mortgage idiot, one that follows the 10-year T-Note instead of mortgage backed securities, you would have lost a lot of money.  Take a look at the closing movements for the day:

Mortgage bonds:  -103bp

10-yr T-Note:  +81bp

Get the picture?  Make sure you are working with a mortgage professional that really knows what is going on.  Of course, you can check back here regularly or even subscribe to the RSS feed to learn what is happening.

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