Rate Watch 11-23-2009

Cautiously Floating


Mortgage Backed Securities near unchanged levels this morning, Stocks open considerably higher. Gold hits yet another record up $22.50 at $1167 / oz. Crude oil is down this morning at $76.90 per barrel. Existing Home Sales were reported far higher than expectations, and the inventory of unsold homes dropped to a 7-month supply, which is the lowest in 2 1/2 years. These are encouraging signs for the housing market. Fed's Bullard says MBS purchase program should stay active beyond the current end date. (Good news for the mortgage industry!) If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.