Florida Mortgage Rates – Special Report

by Florida's #1 Mortgage Planner on August 14, 2008

Locking Stance:  CAUTIOUSLY FLOATING     Mortgage Bonds:  +16bp

Yes, you read it correctly, I switched to a cautiously floating stance.  As I mentioned earlier, the CPI data was unfavorable as the charts predicted.  However, as I also mentioned, the more recent data, aka Initial Jobless Claims, was not favorable and that means economic growth concerns should weigh heavier on the markets.

With stocks headed lower, bonds are having a mini rally on mostly bad news, so it behooves us to float while the gains are to be had.  Long term, I still remain very cautious as the overall picture hasn’t changed much, even with today’s move.

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