Rate Watch 10-23-2009

Alert to Lock:


Mortgage Backed Securities have traded sideways for the past seven trading days. Stocks are down this morning as well. Crude Oil is unchanged today at $81.10 Per Barrel.

There is some encouraging news on the housing front. Existing Home Sales came in better than expected, at 5.57M vs. the expectation of 5.35M. The very important levels of inventory shrunk to a 7.8 month supply, down from a recent high of 10.1 in April.

Out of the 199 companies that have reported earnings in the S&P 500 so far for Q3 earnings, 81% have beaten estimates. We will take positive new anywhere we can get it.

If you or anyone you know is looking to purchase, sell or refinance a property please contact me at 801 668 2112.