Bryan Flynn's Central Massachusetts Mortgage Blog

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Mortgage Market Update for Friday July 25, 2008

Bonds had a nice rally yesterday and closed above a key level of resistance.  In order for confirmation of a technical break through the next trading day needs open above that as well......well bonds did not and they have given back 70% of yesterday's gains already.  The headline number of durable goods came in much better than expected.  Estimates called for negative 0.3% and the actual number was up 0.8%, stock market should open well today.  Friday's in the summer tend to be very volatile so expect yet another crazy day in the markets.

 

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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 Mortgageswebsite or you can click to view Bryan Flynn's Mortgage profile

 

Comment balloon 3 commentsBryan Flynn • July 25 2008 08:24AM
Mortgage Market Update for Friday July 25, 2008
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Bonds had a nice rally yesterday and closed above a key level of resistance. In order for confirmation of a technical break through the next trading day needs open above that as well… well bonds did not and they have given back 70% of yesterday… more
A Week of Rising Rates
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Mortgage Bonds have traded lowered for 4th straight session today losing just shy of 200 basis points over that period. To get a rate quoted on Monday a client would now have to pay 2 points on their loan if they did not lock and wanted that that… more
Mortgage Market Update for July 16th, 2008
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CPI was hotter than expected which is inflationary and bad for mortgage bonds. CPI was estimated at 7% and came in at 1. 1% year or year is 5% Core CPI, ex -food and -engergy, was estimated at 2% and came in at 3% year or… more
Mortgage Market Update for Tuesday July 15th, 2008
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Another crazy day in this economy… the PPI was hotter than expected this morning which means inflation and the Retail Sales number missed. The core PPI which takes out food and energy was slightly better than expected which is some positive… more
The Crisis of Confidence
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The Crisis of Confidence… that's probably the best way to describe it. Friday was a crazy day in the financial markets being headlined by the potential failure of the government sponsors agencies (GSEs), Fannie Mae and Freddie Mac. At the… more
Mortgage Market Update for Wednesday July 9th, 2008
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Bonds have been on a wild ride this week trading significantly lower until a sharp turn around Monday afternoon followed by a big rally yesterday, opening at their low and closing just off their high. The 30 year fixed rate is at it's best level in… more