Florida Mortgage Rates – Midday Report

by Florida's #1 Mortgage Planner on July 14, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +44bp

I may be jumping the gun a bit by switching to a locking stance at this time, but I see bonds hitting resistance and falling back a couple of times already.  While they may not drop much from here, I feel that the downtrend will remain and bonds will likely get some bad news as data gets released this week.

I certainly hope I am wrong and that rates would drop, but technicals are not showing much faith in bonds climbing any higher right now.

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