Bryan Flynn's Central Massachusetts Mortgage Blog

Mortgage and Lending - Regency Mortgage Corporation - NMLS #16825
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Mortgage Bonds are up 41 bps as of 910am this morning.  Core PCE, Personal Consumption Expenditures without food and energy, was released this morning in line with estimates, inflation is still under control.  Year or Year PCE is 2.1% slightly above the Fed's target range of 1-2% but this the Fe...
Tomorrow I will be switching companies from a mortgage broker to a mortgage banker from the wholesale side to the retail side.  I will be working for Wells Fargo. This was a very tough decision for me to leave the broker world and start a new on the retail side, but I believe with the market unce...
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 amo...
Today I posted my mortgage market update for the day and recommended to FLOAT because we had tested a key level of support at the 200 day moving average which we did bounce off.  Just after 1pm, bonds did fall through that support and I changed my bias to a LOCK position, so I updated my blog to...
Durable goods orders were released this morning for April coming in better than expected at -0.5%.  The estimate was -1.5%.  Durable goods are manufacturing goods that are expect to last at least three years.  Usually a better than expected number means that companies are spending extra capital ...
Well Consumer Confidence just hit the wire for the month of May at 57.2 missing estimates of 61.0, meaning consumers are losing confidence faster than expected.  New home sales beat expectations by 6,000 and increased over last month by 17,000.  Although this is positive, new home sales account ...
This morning Existing Home Sales were released and came in slightly better than expected.  4.89 mil v 4.85 mil.  But still on a downward trend year or year.  The US is off 17.5% in seasonally adjusted sales year over year and 8% in price during the same time frame.  The most interesting stat rele...
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 n...
The Federal Open Market Committee released their minutes from their April meeting at 2pm today Here are the highlights: They lowered their growth forecast of the economy slightly over the next few years. They expect higher inflation and unemployment in 2008 and 2009. They believe "risk is recedin...
This morning's mortgage bonds are off about 20 bps.  Bonds are still sitting above a strong level of support at the 100 and 50 day moving averages so I recommend to FLOAT for now.  This afternoon the much anticipated Fed Minutes are released at 2pm.  In these minutes we will discover how the memb...

Bryan Flynn

Central Mass and Worcester Mortgages
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