Rate Watch 7-22-2009

Alert to Lock:
Stocks, Treasuries and Mortgage Backed Securities all down this morning on a day with no apparent news. Traders taking profits and a looming announcement from the Fed about additional supply of treasuries flooding the market next week. Oil down this morning as well at $64.80 per barrel. Bernanke says he cant guarantee the drop in US home prices is over but he does see positive developments in the battered housing market. If you or anyone you know is considering buying, selling or refinancing please contact me at your earliest convenience 801 668 2112.