Rate Watch 3-2-2010

Alert to Lock:
Mortgage Backed Securities are down this morning. Stocks are enjoying a nice day so far but are off there earlier highs as news of a possible resolution to the Greece financial woes has given Stocks a boost and pressured Mortgage Backed Securities lower. Certainly not everyone in Greece is happy with the resolutions. It will force more taxes on the population with fewer benefits to solve the crisis. Public employees’ wages will be frozen at current levels and the minimum retirement age will be increased. (Sounds Fun, sounds like the same news is just around the corner for the USA) Crude Oil is hovering around $79.86 per barrel.  Expect $3.00 per gallon gasoline this summer.  There are no economic reports due for release today. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.