Bryan Flynn's Central Massachusetts Mortgage Blog


Mortgage Rate Update for May 29th

Well so much for hoping rates would stay above the 200 day moving average as I hoped ina blog post last night:  May 28th Mortgage Bond Chart

Bonds gapped open lower today by a negative 31 bps.  We are now down 75 bps are should lock everything under the sun for now as there is still a decent amount of downside in the bond market.

The GDP grow for the first quarter was revised upward to 0.9% from 0.6% and the job market is still showing some stability.  Overall decent news.  Watch for my selling pressure this afternoon.  Bonds have been in a sideways trading range since the middle of march and it seems we have broken through the downside of that range today. 

Comment balloon 0 commentsBryan Flynn • May 29 2008 11:15AM