Mortgage Market Update for Friday July 25, 2008
By Bryan Flynn, Central Mass and Worcester Mortgages
(Regency Mortgage Corporation)
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. __________________________________________________________________________________________________ The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage. Bryan can be reached at Bryan.K.Flynn@wellsfar...