Bryan Flynn's Central Massachusetts Mortgage Blog

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Market Update June 9th, 2008

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 mover.  Oil went up $16 a barrell on Thursday and Friday.  Rates are at their worst level since the first part of March.  Lehman Brothers lost 2.8 billion and is raising another $6 billion in cash....a sign the credit crisis is not quite over.  All in all rates are in a down trend and we look for some support level to strengths and some good inflation news in the near future.

Comment balloon 0 commentsBryan Flynn • June 09 2008 07:19AM
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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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
It' on tonight… whom will win
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Celtics v. Lakers Last time these 2 teams meet in June was in 1987. The Lakers, led by Magic Johnson beat Larry Bird and the Celtics 4-2. Since that point the Celtics had ZERO success and some bad luck. The Lakers,… more
Mortgage Market Update for June 4th, 2008
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Mortgage Bonds are trading lower this morning and surprise, surprise they are sitting right on the 200 day moving average. On Monday bonds broke through and closed above the 200 DMA and did trade below it yesterday but closed in positive… more
Mortgage Rate Update for June 3rd, 2008
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Mortgage bonds are trading -6 bps this morning with no economic data on the docket for today. Fed chairman Bernanke is speaking this morning about the economy and he could move markets, other than that bond trading will be driven by the… more
Mortgage Rate Update for June 2nd, 2008
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Mortgage bonds are up 22 bps this morning. After the selloff Friday afternoon, pricing should be right inline with the Friday morning rate sheets. Just 9 bps higher and bonds hit the strong resistance level at the 200 day moving average. … more