Bryan Flynn's Central Massachusetts Mortgage Blog

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Mortgage Rate Update May 22nd

This morning's initial jobless claims came out slightly better than expected 365k v 370k.  The stock futures are taking the news as a positive and money will move out of bonds and into stocks.  The DOW lost a decent amount over the past 2 days so expect a good day for stocks early on.  In other news oil prices hit another all-time high at over $135 per barrell this morning.  Bonds don't like the inflation in that.

Mortgage Bonds are down about 40 bps early this morning and are sitting on the key level of support.  The damage seems to be done so I would be carefully FLOATING here ahead of the stock market openings.

Update 1:45pm - we are in LOCKING mode.

 

Comment balloon 1 commentBryan Flynn • May 22 2008 07:54AM

Comments

So sick of oil right now. All it is, is a few heads of companys controlling pricing and seeing how high they can go with pricing before americans stop buying fuel and even at $4 a gallon we still keep consuming so why wouldnt the heads continue to raise the price of oil.

Posted by Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes (LemonTree Realty) over 9 years ago

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