Rate Watch 8-30-2010

Cautiously Floating:

Mortgage Backed Securities have already traded as high as 65 points higher on the day. Stocks are off by 140 points at the time of this report. Both the stock and Mortgage Backed Security markets are very jittery so be prepared for ongoing fluctuations.
HUD Secretary Shaun Donovan hinted towards a revival of the $8,000 tax credit to support the homebuyer market. There could even be upgrades to the program where it would allow buyers who are purchasing foreclosed properties or short sales to receive the credit.
If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.