Florida Mortgage Rates – Morning Report

by Florida's #1 Mortgage Planner on August 20, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +9bp

Mortgage bonds have managed to break above their 50-day moving average this morning, so we finally may see rates swing direction.  I still remain very skeptical about their future, but the fact that they are able to move higher as stocks move lower is a good sign.

As I stated before, the charts still paint an ugly picture, but that picture may be changing.  With no news today, stocks are driving bonds higher as they plummet.  Oil is also on the rise again,. so inflation fears could return to the markets if this move higher is not simply a correction. 

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