Rate Watch 1-4-2010

Cautiously Floating:


Mortgage Backed Securities have started the New Year to the upside; however, prices still need to break out of the worsening trend they have been in since November 25th. Stocks are up big this morning to start the New Year off as well. Crude oil up this morning @ $80.13 as the dollar is weakening against foreign currencies.

Last week the Fed purchased just $9.3B in Mortgage Backed Securities. With the Fed buying fewer Mortgage Bonds and wrapping the program up entirely at the end of March, any improvement in rates may be modest at best. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.