Rate Watch 2-9-2011

Cautiously Floating:
Mortgage Backed Securities had another roller coaster ride today as volatility continues to dominate trading. Mortgage Bonds opened higher this morning after 7 straight days of losses, Then fell, but were able to surge after the strong results from today's 10-yr note auction. Stocks spent most of the session near unchanged levels as investors took some profits after their recent run higher but the Dow did manage to squeak out a gain for its 8th straight winning session. The Dow rose 6.74 to 12,239.89 and the S & P 500 Index lost 3.69 to 1,320.88. Crude Oil settled near unchanged at $86.71/barrel up 23 cents. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.