Florida Mortgage Rates – Special Report

by Florida's #1 Mortgage Planner on August 21, 2008

Locking Stance:  LOCKING     Mortgage Bonds:  -6bp

Well, mortgage bonds started their plunge as I expected, but earlier.  I thought they might wait until the Philly Fed, which may still stop the bleeding depending on its results.  Instead, mortgage bonds started their nose dive as the stock market opened.

I have been mentioning the warning signs the charts were showing for quite some time, even as mortgage bonds were headed higher.  Those warnings have finally come true, leaving the question of the move lower being a merely needed correction or a continuation of the long term downtrend.  Time will tell the answer to that one.

Once again, the Philly Fed, a major report for mortgage bonds, is due out in about 1/2 an hour, so more volatility may play into the markets very soon.

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