Florida Mortgage Rates – Midday Update

by Florida's #1 Mortgage Planner on June 19, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -22bp

I apologize if this morning’s post didn’t make it to the server.  Apparently my hosting company had some issues and all of my sites were down, but that appears to be resolved now.  Anyhow, the purpose of this post is to update you as promised.

As I mentioned earlier, the jobless claims were not as bad as expected, again.  The LEI came in a little higher than expected as well, but all eyes were on the Philly Fed Index.  Those numbers came in lower than expected, but that is no help for bonds today.  That means that the needed correction may be over, yet it is still too early to say so, especially with tomorrow lacking any scheduled reports.

I am still going to favor locking for your protection as bonds struggle for real direction and will likely do so the remainder of the day.  I still feel that this move higher is just a correction and that the downtrend will resume shortly.

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