Rate Watch 1-21-2009

Cautiously Floating:


Mortgage Backed Securities are up this morning. Stocks plunging for the second day in a row and are presently down big over 200 points at the time of this report. Today President Obama is speaking on new banking proposals and limiting the size of big institutions. Tons of uncertainty surrounds the new proposals from the President. Initial Jobless Claims came in at 482,000, which was significantly worse than expected and reversed the trend of lower numbers each week. We need to see Initial Claims below 400,000 per week to see stabilization in the Unemployment Rate. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.