Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on August 13, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -19bp

Mortgage bonds struggled to gain ground, so much so they lost steam and slid lower.  With stocks down as much as they were, it is disheartening to see mortgage backed securities fall as well.  Retail Sales was not as helpful as one would think, but in the end run, imports were what killed bonds as their numbers raised concerns about inflation somewhat.

Speaking of inflation, tomorrow brings the CPI, one of the major players in delivering inflationary pressures.  Mortgage bonds do not look like this data will be favorable, so I remain in a locking stance, at least until I can see just cause to switch, and that doesn’t appear likely right now.

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