Rate Watch 12-22-2009

Alert to Lock:
Mortgage Backed Securities are lower again this morning. The slide over the past few days has left Bond prices beneath all of their major moving averages. MBS have lost over 200 basis points over the past 15 trading days. Stocks are higher this morning and Crude Oil is lower @ $73.09., Existing Home Sales were reported a bit higher than expected and the inventory of unsold homes fell to a 6.5-month supply. Overall, this is a good report, but we must remember that it is somewhat fueled by the Homebuyer Tax Credit. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.