Rate Watch 1-28-2010

Cautiously Floating:
Mortgage Backed Securities are near unchanged levels so far this morning. However MBS have experienced continued sideways trading meaning that there is a ton of movement in the pricing of MBS. Stocks are experiencing a tuff morning currently down163 points. Yesterday, the Fed confirmed that its Mortgage Backed Security purchase program will end March 31, 2010. Initial Jobless Claims showed that the labor market is still struggling, as last week's claims were higher than expected. Durable Goods Orders also disappointed, coming in much lower than anticipated. Ford Motor Company showed a profit in 2009 for the 1st time since 2005. Bernanke expected to be confirmed to another 4 years later today. Crude oil trading sideways so far today and is currently at $73.55. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.