Florida Mortgage Rates – Afternoon Update

by Florida's #1 Mortgage Planner on June 4, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -66bp

No, that is not a misprint, bonds are actually down over 60 basis points, and well below their 200-day moving average.  As I expected, with the negative indications in the news and charts, the 200-day moving average has failed.

With the European Central Bank and the Bank of England set to make rate decisions tomorrow and the fact that even Bernanke is now talking about inflation concerns (I guess he opened his eyes finally), bonds are just taking a beating.  Of course, there is more news that is aiding to their plunge, but let’s look to Friday’s data to let it all sink in.

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