Rate Watch 12-17-2009

Cautiously Floating:
Mortgage Backed Securities are starting the day sharply higher after Initial Jobless Claims rose higher than expected. Upon hearing the news, investors shifted money from Stocks to MBS which helped MBS improve. Yesterday, the Federal Reserve reiterated that its Mortgage Backed Security purchase program will end in March as scheduled. After recently being named TIMES man of the year Ben Bernanke has been approved by the senate banking committee for a 2 term as FED Chief. Now it goes to a full vote in the Senate. Crude oil is a bit lower today at $71.89 per barrel. Gold down $27 @ $1,108. So far today. If you or someone you know is considering buying selling or refinancing please contact me at 801 668 2112.