Bryan Flynn's Central Massachusetts Mortgage Blog

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Mortgage Rate Update for June 3rd, 2008

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 stock market (stocks up bonds down vice versa)

Bonds did close above the 200 day moving average yesterday and if those levels can hold today bonds rates should be trending lower for the next few days.  Some employment, productivity and manufacturing numbers are to be released tomorrow that could sway the markets, but for now I recommend a FLOAT as we still trade above the 200 day moving average.

Comment balloon 2 commentsBryan Flynn • June 03 2008 08:25AM

Comments

Thanks for the update and advice for anyone considering a purchase right now.

Posted by Hope Goss, Ventura Real Estate (Ventura Property Shoppe) over 10 years ago

Bryan - I like how you are giving people updates on how the rates could possibly move. It seems like the rates will most likely be drifting higher over the next few months.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) over 10 years ago

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