Florida Mortgage Rates – Morning Update

by Florida's #1 Mortgage Planner on June 11, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +50bp

Did you hear that?  The “dead cat” bounced.  Hopefully you know what I am talking about there.  If not, send me an email and I will explain it further.

Remember that I said the stochastics showed a need for correction?  Well, that is exactly what is going on today.  Bonds are rallying in what appears to be a correction of sorts after the latest freefall in pricing.  Chances are it is yet another unsustainable move higher, so plan on locking before the day is out unless you hear from me otherwise.

Today is a good day if you have been sitting on the sidelines as you can take this move higher to secure slightly better pricing on your mortgage with this mini rally.  Just beware that tomorrow may be disastrous as the latest Retail Sales numbers are released.

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