Rate Watch 10-5-2009

Cautiously Floating:
Stocks are up this morning while Mortgage Backed Securities are unchanged at the moment after being higher this morning. MBS started slipping after the not so stellar (TIPS) Treasure Inflation Protection Securities auction this morning.
This week brings another round of Treasury auctions, and as we have seen in the past, this could shake up the markets. Also, former Fed Chairman Alan Greenspan said he sees unemployment rising beyond 10%, yet he advised against a second massive stimulus package, as he fears the long-term negative consequences.
Be ready to Lock should sentiment change.
If you or anyone you know is considering buying, selling or refinancing please contact me at 801 668 2112.