Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 30, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -22bp

The ADP report blew away expectations and that is helping to send bonds lower out of the starting gates.  Keep in mind that the ADP report often sends erroneous signals about the coming Jobs Jamboree, so this doesn’t spell the end of mortgage bonds, at least not yet.

I apologize for saying the Chicago PMI and ECI reports were today, but I actually forgot what day of the week it was when doing that report.  Those reports are due out tomorrow.

Nevertheless, the charts don’t care what day it is and they pointed to lower prices ahead and that is what we are getting today, and maybe the rest of the week.

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