Rate Watch 8-12-2009

Alert to Lock:
Mortgage Backed Securities down this morning. stocks up. crude oil flat at $69.70 per Barrel.
Two big events coming up this afternoon. At 1 o'clock Eastern Time, the results of the $23 Billion auction of 10-year Notes will be released. Then at 2:15, the Fed will issue its Policy Statement after its two-day Fed Meeting.The news from the Fed will be both multi-faceted and potentially market moving. Any hints of inflation and hikes could cause the market to swing in one direction. However, news of Bond purchases could cause an opposite reaction. The market volatility continues. if you or someone you know is considering Buying, Selling or Refinancing please contact me at 801 668 2112.