Florida Mortgage Rates – Afternoon Update

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

Locking Stance:  LOCKING     Mortgage Bonds:  +12bp

Mortgage bonds are still trapped between resistance and support, not providing a clear direction ahead.  While the correction needed may still be taking place (stochastics show bonds on the oversold side), I am not sure how trading will go next Monday, so I lean towards playing it safe and locking here as the week comes to an end.

Remember that the overall trend is downward (higher rates), so without something to buck the trend, odds are that mortgage pricing will get worse, not better.  Have a great weekend.

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