Alert to Lock:
Mortgage Markets are closed today in observance of Columbus Day. I believe that we will be in a Locking Bias for the foreseeable six month as the Federal Reserve reduces their purchase of mortgage backed securities. While the FED is restricting their purchases of MBS to approximately 12 Billion weekly this will soften prices and rates will go up.
The Stock Market closed at it all time high on 10-9-2007 at 14,164 and the Bear Market (the Dot.Com meltdown.) that lasted from 2000 to 2002 officially ended in October 9th, 2002 as well.
If you or someone you know is considering Buying, Selling or Refinancing please contact me at 801 668 2112.
