Rate Watch 5-7-2009

Alert to Lock:
Mortgage Backed Securities down this morning in reaction to the recent better than expected employment data and the better than expected data from the banking system showing that most of the remaining banks are stable. Results from the banking stress test are out later today but news has been leaking out for the past week. Oil continues to sky rocket up word with oil near $59 / Barrel this morning. Oil is up 30% Year to Date and climbing. Stocks have reversed course this morning and are now lower. Walmart is reporting better than expected numbers this morning suggesting that there might be some recovery happening in the retail sector as well. if you or anyone you know is considering Buying, Selling or Refinancing please contact me at 801 668 2112.