Rate Watch 7-27-2009

Alert to Lock:
The flood of Treasury debt hitting the market this week is already taking an early toll on Mortgage Bonds. The auctions are competing with equities for investor dollars and servicing the massive debt is also a concern for the health of the economy. Oil has moved back up to near $70 a barrel, which is no help to Mortgage Backed Securities either. Stockes are down slightly this morning as well. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.