Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on July 31, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  +25bp

As I said yesterday, the fundamentals were changing, but technically odds favored lower prices.  Today, the picture has changed a little, but we are still not solidly through the resistance layer and bonds have come off their highs.

There was mixed news today, which I will cover in more detail in the evening report as I am on vacation right now.  Basically, the Chicago PMI beat expectations the ECI came in “in line” with expectations, but the Chain Deflator was worse.  All together, bonds ticked higher, but may not have enough strength to stay there and we will likely have to wait until tomorrow’s Jobs Jamboree to see where bonds are really headed. 

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