Rate Watch 1-18-2011

Alert To Lock:
Mortgage Backed Securities started the day in positive territory but reversed sharply lower after the news that China was a net seller of Treasury's in November, prompting sellers to come out of the woodwork. Stocks posted gains today shrugging off the weaker than expected earnings from Citigroup. The Dow rose 50.55 to 11,837.93, The Standard and Poor’s 500 Index gained 1.78 to 1,295.02. Crude Oil ended the day @ $91.38/barrel. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.