Rate Watch 10-22-2009

Alert to Lock:
Mortgage Backed Securities are in the red this morning. Stocks are up this morning and Crude Oil is down slightly at $80.64 Per Barrel. Treasury auction announced for next week, the treasury will auction 123 Billion to manage the staggering public debt. The large treasury auctions are a reality check that as consumers we have to pay back all the stimulus and spending dollars poured out over the past year and a half.
Initial Jobless Claims rose more than expected and the number of individuals continuing to receive unemployment benefits fell to the lowest level since March, but this is likely the result of people’s unemployment benefits expiring, without them having been able to find jobs.
If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.