Bryan Flynn's Central Massachusetts Mortgage Blog

Celtics v. Lakers   Last time these 2 teams meet in June was in 1987.  The Lakers, led by Magic Johnson beat Larry Bird and the Celtics 4-2.  Since that point the Celtics had ZERO success and some bad luck.  The Lakers, went on to the championship 7 times and winning 5.  Interesting stat I saw th...

Mortgage Bonds are trading lower this morning and surprise, surprise they are sitting right on the 200 day moving average.  On Monday bonds broke through and closed above the 200 DMA and did trade below it yesterday but closed in positive territory at the end of the trading day.  Technically yes...

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 c...

Mortgage bonds are up 22 bps this morning.  After the selloff Friday afternoon, pricing should be right inline with the Friday morning rate sheets.  Just 9 bps higher and bonds hit the strong resistance level at the 200 day moving average.  Wait and see what rates do after the ISM number is rele...

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 ...