wells fargo massachusetts: Mortgage Market Update for Friday July 25, 2008 - 07/25/08 01:24 AM
Bonds had a nice rally yesterday and closed above a key level of resistance.  In order for confirmation of a technical break through the next trading day needs open above that as well......well bonds did not and they have given back 70% of yesterday's gains already.  The headline number of durable goods came in much better than expected.  Estimates called for negative 0.3% and the actual number was up 0.8%, stock market should open well today.  Friday's in the summer tend to be very volatile so expect yet another crazy day in the markets.
 
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The above Mortgage Market Update information … (3 comments)

wells fargo massachusetts: A Week of Rising Rates - 07/18/08 02:01 AM
Mortgage Bonds have traded lowered for 4th straight session today losing just shy of 200 basis points over that period.  To get a rate quoted on Monday a client would now have to pay 2 points on their loan if they did not lock and wanted that , that is scary.
No economic news out this morning; movement today should be technically driven, the sellers are losing their steam and the buyers should be coming to market for a reversal in pricing.
 
Have a great weekend! 
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The above Mortgage Market Update information was provided by Bryan Flynn of Wells … (0 comments)

wells fargo massachusetts: Mortgage Market Update for July 16th, 2008 - 07/16/08 12:45 AM
 
 CPI was hotter than expected which is inflationary and bad for mortgage bonds.
CPI was estimated at .7% and came in at 1.1% year or year is 5%  
Core CPI, ex -food and -engergy,  was estimated at .2% and came in at .3% year or year it is 2.4%
It is the biggest CPI jump in a single month since 1982, biggest year or year  rise since 1991.  
Bonds are down 25 bps but are down 19 bps right now but it's still early......overall not a great number but you kind of had to expect this so it could be … (0 comments)

wells fargo massachusetts: Mortgage Market Update for Wednesday July 9th, 2008 - 07/08/08 11:13 PM
Bonds have been on a wild ride this week trading significantly lower until a sharp turn around Monday afternoon followed by a big rally yesterday, opening at their low and closing just off their high.  The 30 year fixed rate is at it's best level in just over a month. 
Bonds and stocks both finished up on the day which is not a normal occurrence.  Oil was down over $5 on the day, the biggest one day drop in about 4 months. 
Technically bonds broke through 2 levels of resistance and are just 28 bps below the 200 day moving average, which will be … (0 comments)

wells fargo massachusetts: Mortgage Market Update for June 30, 2008 - 06/30/08 01:35 AM
 
 Today is the last day of the 2nd quarter and the DOW is on pace to have its worse month of June since 1930.  A new oil intraday high of $143.57 just hit as well.  I just heard those stats and thought I should share.
This is my first update in a week, I was in training most of last week and had limited computer access.  Mortgage Bonds did rally last week after the Fed changed their policy statement preparing themselves to act if inflation worries continue.  Personal Consumption Expenditure was released Friday as well and the Core PCE which does not count … (2 comments)

 
Bryan Flynn, Central Mass and Worcester Mortgages (Regency Mortgage Corporation)

Bryan Flynn

Central Mass and Worcester Mortgages

Worcester, MA

More about me…

Regency Mortgage Corporation

Address: 193 West Boylston Street, West Boylston, MA, 01583

Office: 774(261) 849-6774

Mobile: (508) 207-0807

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Where are Mortgages Rates going......Realtors and Loan Officers...keep your clients informed. Language Translations
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