Florida Mortgage Rates – Afternoon Report

by Florida's #1 Mortgage Planner on July 3, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -16bp

Mortgage bonds closed down 16 basis points to end the week below their 25-day moving average.  The downtrend appears to remain solidly in place and mortgage rates will likely rise unless they can get a break in the news. 

Data that flowed in this week continues to keep recessionary fears in play, but inflationary expectations are not diminishing as oil keeps climbing, the dollar keeps dropping, and American wealth wastes away.  Where mortgage rates go from here favors climbing at this point on both the fundamentals and the technicals.  Time will tell, but things do not look good.

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