Rate Watch 1-25-2010

Cautiously Floating:
Markets are quiet ahead of the Federal Open Market Committee Meeting later this week. Fed Chairman Ben Bernanke is expected to be confirmed to a second term later this week. In addition, the Fed's comments for the Fed Funds Rate and their Mortgage Backed Security purchase program could have a big impact on the markets on Wednesday. Existing Home Sales for December were weak down 16% from expected levels. Stocks are looking to rebound this week after losing 442 last week. Crude Oil is starting the week at $74.50 down from levels seen at the start of last week. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.