Bryan Flynn's Central Massachusetts Mortgage Blog


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