Rate Watch 2-11-2011

Cautiously Floating:
Mortgage Backed Securities are trading higher this morning for the first time in nearly two weeks. I am encouraged that MBS appear to have bottomed out.
The Treasury Department is Negotiating the future of both Fannie Mae and Freddie Mac, and what their role will be in the mortgage market. We expect details of a plan to pare back their roles and reintroduce private capital back into the mortgage markets. Egypt’s Mubarek’s resignation is helping the markets move higher. Crude Oil is up today @ $87.19 per barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.