Bryan Flynn's Central Massachusetts Mortgage Blog

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Market Update June 18, 2008

Mortgage Bond are trading higher 12bps this morning following yesterday's momentum.  Bond are resting just above the closest resistance level which is bullish, no real news to report today.  Watch the stocks if they go down should be good for bonds today.  Tomorrow the Philly Fed Index will move the markets and next week the Fed meets......

 

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The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage.  Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223.  Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.

 

More than likely, this is one of the largest and most important financial transactions you will ever make. I have a desire to help people out and love my job.  You might need a mortgage only four or five times in your entire life... but I do them every single day. It's your home and your future. It's my profession and my passion. I'm ready to work for your best interest.

 

For more information on my service please check out my Central Mass and Worcester Mortgages website or you can click to view Bryan Flynn's Mortgage profile

 

Comment balloon 1 commentBryan Flynn • June 18 2008 08:51AM
Market Update June 18, 2008
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Mortgage Bond are trading higher 12bps this morning following yesterday's momentum. Bond are resting just above the closest resistance level which is bullish, no real news to report today. Watch the stocks if they go down should be good for bonds… more
Mortgage Rate Update for June 17th, 2008
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CPI was in line with expectations and PPI was a bit hotter this morning. Mortgage Bonds seems to have drawn a line in the sand for now and are attempting a reversal. We finished up 50 bps on the day closing right inbetween a dual layer of… more
Mortgage Market Update for June 16, 2008
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Mortgage backed securities are trading flat on the day down just 3bps this morning. Bonds have been in a downward trend for the last 2 weeks and rates have crept up 75% higher nearing 7. 00%. The recent pressure on bonds are due to the… more
Mortgage Market Update Friday the June 13th, 2008
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Well it is official… the bond market is fearful of inflation. Some decent CPI numbers came out this morning but that was overshadowed this afternoon by the word no bullish bond trader wants to here… INFLATION is here and rising… well… more
Market Update for June 12, 2008
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Mortgage Bonds are down 38 bps this morning as of 920am EST. Stock futures are up and oil is down which is leading to bond deterioration. Retail sales were released this morning and came in better than expected for May and better than they were in… more
Market Update for June 10th, 2008
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On a technical note, mortgage bonds are down 5 straight session at 216 bps points… rates have rose to the 6. 625% area on a conventional 30 year fixed. Bonds are oversold, which generally indicates that the buyers will be back and… more
Market Update June 10th, 2008
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Mortgage Backed Securities had a wild day yesterday. Off 81 bps at the low but did rally to close at a support level see chart below noting the circled red candlestick representing yesterdays trading day(amazing how that works) … more
Market Update June 9th, 2008
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Mortgage Bonds are taking a beating off this morning by 59 bps early bouncing off a resistance level and now are sitting down on a level of support. No economic data released today. Retail Sales is out Thursday which should be a market… more
Mortgage Rate Update for 6/6/2008 - are we in a Recession???
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Non-farm payrolls estimated -60, 000 actual -49000 (better than expected… good news for the economy bad for mortgage rates) Unemployment numbers estimated 5. 1% actual is 5. 5% (huge jump of 5% last time this happened was in 1986… more
Mortgage Rate Update for June 5th, 2008
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Mortgage Bonds are down again today after breaking through the 200 day moving average yesterday afternoon. Initial jobless claims where lower than expected this morning and the umemployment rate is released tomorrow and given the… more