Rate Watch 3-17-2010

Happy Saint Patrick’s Day! Carefully Floating:
Mortgage Backed Securities got a nice boost yesterday after the Fed announced no changes to the Fed Funds Rate. So far today, MBS prices are battling to hold on to those gains and remain near unchanged levels. Stocks appear to be enjoying a nice day so far and are up 50 points this morning. In other news, the Producer Price Index (PPI), which gauges inflation at the wholesale level, was reported well below expectations and at the largest monthly decline since July 2009. (This is welcome news for mortgage rates.) Crude Oil is up this morning @ $82.39 per barrel. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.