Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on August 6, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -38bp

Well, bonds are on their way to test support, which is the most recent “low price point,” 29 more basis points lower.  Chances are we will get a bounce off that level, that is unless we get some catalyst to break them lower.

All of the “major” data has already been released for this week, so bonds may not get much help going forward.  Today does have the release of crude inventories and that could move oil prices and indirectly get the bond markets moving also.  Tomorrow, we will see the last report of the week, Initial Jobless Claims, which has been acting more importantly than normal, especially absent of other data.

Looking at the technical indications, there is just nothing good to say right now.  Everything points toward lower prices and higher mortgage rates as a result.

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