Rate Watch 9-24-2009

Cautiously Floating:
Mortgage Backed Securities up this morning after the good Fed auction of 29 Billion of 7 year notes. Stocks down at the moment.  Initial Jobless Claims came in below expectations.Mortgage Backed Securities worsened initially on the headline, but have since moved back to positive territory. Existing Home Sales were also reported less than expected. However, the inventory of unsold homes fell to the lowest inventory level since April 2007. Crude oil drops below $66 per barrel on higher supply and declining demand.  If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.