Rate Watch 12-16-2009

Cautiously Floating:
Stocks and Mortgage Backed Securities are up slightly today. Crude up $2.53 as crude inventories decrease. Gold is up $14.53 at $1137 per ounce.
Today the Federal Reserve will release their Interest Rate Decision and Policy Statement. The Fed isn’t expected to change the Fed Funds Rate, but the statement could influence the markets. If the Fed reaffirms that rates will remain low for an extended period, Mortgage Backed Securities could see some improvement..
The Consumer Price Index (CPI) was reported in line with expectations, signaling that inflation remains low for now. Housing Starts for November were also in line with estimates while Building Permits, which are a leading indicator of housing construction, reached the highest level seen in the past year.
If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.