Rate Watch 2-2-2010

Alert to Lock.


Stocks are up big this morning as Mortgage Backed Securities are unchanged on the day. MBS have been trading between a layer of support and a layer of resistance which means they could be primed for a breakout in either direction. I am concerned that rates could lose ground and go up slightly over the course of the next couple of weeks. Crude oil up $2.48 @ $77.05 per barrel on renewed economic recovery hopes. Ford Sales up 25% compared to the same month last year. VP Biden says that he expects the US Economy to be creating jobs this spring. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.