Florida Mortgage Rates – Evening Report

by Florida's #1 Mortgage Planner on July 17, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -75bp

Mortgage bonds had another bad day, but were showing some signs of life as the day ended.  Oil prices dropped below their support for the first time this year and a "double top" pattern formed.  If this holds, oil prices could be on the decline, easing inflationary pressures some.

Tomorrow does not hold any scheduled data, so bonds will likely take direction from stocks, oil, news, etc.  Technical indications allow for a short rally as a correction of sorts, but bonds still remain poised to retest their June lows.

Leave a Comment

Previous post:

Next post: