Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 18, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -22bp

Mortgage bonds gapped lower this morning, but are essentially unchanged from their open.  There is no data scheduled to be released, so earnings news will likely aide technicals in pushing bonds one way or the other today.

Bonds have had a rough few days and could likely get a small rally going as a correction.  Stochastics are now moving into an oversold condition and retracements happen after large moves.  Whether or not that retracement takes place today or not is yet to be determined, but so far does not appear to be happening.

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