Bryan Flynn's Central Massachusetts Mortgage Blog

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Mortgage Rate Update for June 23rd, 2008

This week is about about Wednesday and what the Fed is going to do.  It would be an absolute shock if they chose to raise rates to begin the fight on inflation.  Wall Street is most interested in what the statement is going to say about the issues and their views, expect volatility.....safe beat is to lock.

 

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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 2 commentsBryan Flynn • June 23 2008 05:45PM
Mortgage Rate Update for June 23rd, 2008
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This week is about about Wednesday and what the Fed is going to do. It would be an absolute shock if they chose to raise rates to begin the fight on inflation. Wall Street is most interested in what the statement is going to say about the issues… more
Mortgage Rates for June 20, 2008
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Bonds were off 3 bps on the day this Friday, aftering stalling out and not being able to break up the upward resistance line for the 3 consecutive day. There was not economic released and the down did finish off down over 200 points and the S &… more
Mortgage Market update June 19th, 2008
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Rates were down modestly today 22 bps on the day. Bonds tested both the closest support and resisitance levels and closed right in the middle of it… meaning we are in another tug of war with the bulls and the bears going into next week's Fed… more
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