Bryan Flynn Central Mass and Worcester Mortgages

Rates were down modestly today 22 bps on the day. Bonds tested both the closest support and resisitance levels and closed right in the middle of it....meaning we are in another tug of war with the bulls and the bears going into next week's Fed meeting. From a technical standpoint bonds are still "oversold" so hopefully we can break through the resistance and get interest rates back down a bit.

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The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage. Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223. Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.

More than likely, this is one of the largest and most important financial transactions you will ever make. I have a desire to help people out and love my job. You might need a mortgage only four or five times in your entire life... but I do them every single day. It's your home and your future. It's my profession and my passion. I'm ready to work for your best interest.

For more information on my service please check out my Central Mass and Worcester Mortgages website or you can click to view Bryan Flynn's Mortgage profile

Mortgage Bond are trading higher 12bps this morning following yesterday's momentum. Bond are resting just above the closest resistance level which is bullish, no real news to report today. Watch the stocks if they go down should be good for bonds today. Tomorrow the Philly Fed Index will move the markets and next week the Fed meets......

_______________________________________________________________________________________________________________________

The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage. Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223. Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.

More than likely, this is one of the largest and most important financial transactions you will ever make. I have a desire to help people out and love my job. You might need a mortgage only four or five times in your entire life... but I do them every single day. It's your home and your future. It's my profession and my passion. I'm ready to work for your best interest.

For more information on my service please check out my Central Mass and Worcester Mortgages website or you can click to view Bryan Flynn's Mortgage profile

CPI was in line with expectations and PPI was a bit hotter this morning. Mortgage Bonds seems to have drawn a line in the sand for now and are attempting a reversal. We finished up 50 bps on the day closing right inbetween a dual layer of resistance. Bonds are also highly oversold which should bring some more buyers into this market and drive the price up a bit, thus dropping rates. Let's hope this continues tomorrow and we get rates back to the mid 6% range.

For now we are FLOATING!

_______________________________________________________________________________________________________________________

The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage. Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223. Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.

More than likely, this is one of the largest and most important financial transactions you will ever make. I have a desire to help people out and love my job. You might need a mortgage only four or five times in your entire life... but I do them every single day. It's your home and your future. It's my profession and my passion. I'm ready to work for your best interest.

For more information on my service please check out my Central Mass and Worcester Mortgages website or you can click to view Bryan Flynn's Mortgage profile

Mortgage backed securities are trading flat on the day down just 3bps this morning. Bonds have been in a downward trend for the last 2 weeks and rates have crept up .75% higher nearing 7.00%.

The recent pressure on bonds are due to the pressure the heightened inflation concerns of the market. The Fed meets next week and bonds traders are looking for short-term rates to be increased which will be great for long-term bond rates....however don't expect much more than shift in the policy statement.

Floating for now....

Mortgage Bonds are down 38 bps this morning as of 920am EST. Stock futures are up and oil is down which is leading to bond deterioration. Retail sales were released this morning and came in better than expected for May and better than they were in April, very good news for consumer sentiment. Some people did receive their stimulus checks at the end of May so that may have added to the positive numbers. With a dual layer of support just behind current prices it would be prudent to FLOAT for now.

_______________________________________________________________________________________________________________________

The above Mortgage Market Update information was provided by Bryan Flynn of Wells Fargo Home Mortgage. Bryan can be reached at Bryan.K.Flynn@wellsfargo.com or by phone at 508.363.2223. Bryan has worked in the Central Mass and Worcester area for the past 6 years as a mortgage loan officer.

More than likely, this is one of the largest and most important financial transactions you will ever make. I have a desire to help people out and love my job. You might need a mortgage only four or five times in your entire life... but I do them every single day. It's your home and your future. It's my profession and my passion. I'm ready to work for your best interest.

For more information on my service please check out my Central Mass and Worcester Mortgages website or you can click to view Bryan Flynn's Mortgage profile