Rate Watch 4-8-2011

Alert To Lock:
Mortgage Backed Securities opened the day sharply lower on inflation worries, global unrest and it remains uncertain whether Congress will get a budget agreement passed in time to avoid a government shutdown. There is a chance that a one week extension will be passed to give negotiators more time. This is helping to push the US Dollar lower. During the last government shutdown in 1995, foreign investors became sellers of U.S. debt securities. Crude Oil up this morning at $111.63 and GOLD hits another record high at $1,473 per ounce. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.