Rate Watch 9-29-09

Cautiously Floating:
"Mortgage Backed Securities and stocks are trading lower this morning, erasing some of yesterday gains.
Consumer Confidence for September was reported quite a bit lower than expectations. So far this morning Stocks reversed lower, helping Mortgage Bonds improve from their worst levels. Also today, the Case-Shiller Home Price Index came in better than expectations and may indicate that that the worst of the national  housing price declines are behind us. FDIC proposes banks to prepay 3 years of fees due to more bank failures. Freddie mac says home loan rates still hovering near 5%. The FED is pursuesing strict new US credit card rules.  If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112