Rate Watch 10-14-2009

Alert to Lock:
Stocks are up this morning and Mortgage Backed Securities down. Minutes released from the FED today say that Mortgage Interest Rates to remain low for a period of time. Some of the FED officials wanted to boost the size of the Feds purchase of Mortgage Backed Securities.

Dow hits 10Kfor the first time since October 3rd 2008. Crude Oil hits high of 2009 today at $75.40 per Barrel. Gold hits record at $1,070 per Troy ounce as Dollar continues to weaken.

Strong earnings reports from Intel and JPMorgan Chase pushed Stocks sharply higher and put pressure on Bonds. Also hurting Bonds was the Retail Sales report, which came in better than expected but still looked dismal at best.

If you or someone you know is considering Buying, Selling or Refinancing please contact me at 801 668 2112.