Rate Watch 3-1-2011

Alert to Lock:
Mortgage Backed Securities and Stocks continue to grind lower this morning as Reserve Chairman Ben Bernanke starts his two-day semi-annual testimony on Capitol Hill before Congress. Mr. Bernanke has been very clear in past speeches, calling for the government to "act now" to control the enormous U.S. debt and will most likely bring up the subject again today. Bernanke says that any suggestion that the US may default on debt would have very negative consequences for the US. Bernanke has been saying that the FED will tighten when the overall recovery is self sustaining. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.