Florida Mortgage Rates – Morning Update

by Florida's #1 Mortgage Planner on June 5, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -38bp

Mortgage bonds just can’t get any good news right now, with yet another unfavorable data release.  What will tomorrow bring in the Jobs Jamboree?

This morning saw the only data to be released today and, once again, the data spelled bad news for bonds.  Initial Jobless Claims beat expectations, indicating the job market may be improving, more news that our overall economy may not be as bad as people have been led to believe.

As I have stated numerous times before, good news for the economy is bad for bonds, and subsequently mortgage rates.  With more data showing a better than expected economy, inflation concerns are brought to the forefront, and there is still plenty of reasons to be concerned about inflation.

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