Rate Watch 2-4-2011

Alert to Lock:
Mortgage Backed Securities traded in the red and fell for the 5th straight this week on positive economic reports, supply issues next week, inflation fears and a fall in the unemployment rate combined for a crazy week for mortgage interest rates. Stocks managed to put up gains this week with the Dow rising 2.3% to 12092.15, the S&P 500 up 2.7% to 1,310.87 while the Nasdaq rose 3.1% to end the week at 2,769.30. Oil finished at $89.03/barrel falling 0.4% for the week. Next week's economic calendar is extremely light with just weekly unemployment claims on Thursday and Consumer Sentiment on Friday. The Treasury will sell $72B in 3 and 10 year notes along with 30 year Bonds next week. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.