Rat Watch 10-26-2009

Alert to Lock:


Mortgage Backed securities are lower this morning, following through on Friday's weakness and Stocks are lower due to earnings reports and a higher Dollar. It is important to understand that positive earnings numbers gained by cutting jobs are not really positive for the economy, nor are these gains sustainable. Crude Oil is down slightly this morning at $79.44 per barrel.

There are no economic reports set for release today, but later this week we’ll have reports on housing, consumer demand, economic growth, inflation and the labor market. In addition, there will be more Treasury auctions this week.

The Fed’s Treasury buyback program comes to an end on Thursday. Without the Fed buying support helping to provide demand to sop up some of the massive supply…rates will continue to edge higher.

If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.