Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 21, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  0bp

Mortgage bonds had a rough week last week and rates rose around .375% as a result.  This week promises more of the same.  Today’s agenda only holds the LEI report, so we can expect fears to continue controlling the markets, but there is a need for a correction.

I suggest locking as bonds, despite being oversold, are setting new lows for recent history (back to October) and are firmly in a downtrend still.  i will be away from the computer today (mostly), but will report back later on today’s events.

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