Rate Watch 7-9-2009

Alert to Lock:
Mortgage Backed securities are down this morning. The 11 Billion Fed Auction is not going well today signaling that Mortgage Backed Securities and Government Treasury Bills and bonds are way oversold. Another bad sign for mortgages today is that Oil has reversed a 6 day loosing streak and looks to hold onto some gains today. Lastly stocks are slightly to the positive and are benefiting from the sell off of Mortgage Backed Securities. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.