Rate Watch 1-27-2010

Cautiously Floating:
Another CRAZY day!!!! Issues at Toyota and the Japanese down grade of the countries bonds are rocking the financial world today. Stocks down this morning and Mortgage Backed Securities are unable to break a significant layer of resistance to move mortgage loan rates lower. Crude Oil is down slightly again today in sympathy with stock prices. Hearings begin on Capitol Hill surrounding the bailout of AIG. Timothy Geithner is in the hot seat. Housing numbers are weak to add to the volatility. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.