Rate Watch 1-27-2011

Cautiously Floating:
Mortgage Backed Securities finished the day higher. It was another roller coaster ride for the Mortgage markets today as they opened lower on positive corporate earnings but pushed higher on a 51,000 rise in Initial Unemployment Claims. Stocks hit a wall of resistance again today. The Dow hit 12,019 and traded above its 12,000 level of resistance but closed at 11,989.83 up 4.39. Crude Oil continued to move lower settling at $85.64/barrel down $1.69 pressured lower by recent weaker than expected economic data. Gold fell to a 4 month low closing at $1,318.40/ounce down $14.60 after top central bankers said they are united against inflation. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112. .