Florida Mortgage Market – Special Update

by Florida's #1 Mortgage Planner on May 28, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -78bp

I wanted to update you on what is happening in the markets right now.  The 200-day moving average has just broken, meaning things are getting ugly faster than I expected.

While I had expected this level to break, I was hoping it would wait until Friday’s PCE report because there would be a better reason for it’s collapse.  Inflation continues to plague the marketplace and bonds are being destroyed as a result, and indications of an improving economy (at least least catastrophic than people were led to believe) aren’t helping things.

I had mentioned the fact we are facing similar characteristics of the late 70s and early 80s, so let’s hope rates don’t hit those levels again.

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