rate Watch 3-2532010

Alert to Lock:
Yesterday Mortgage Backed Securities plunged lower causing many lender to issue multiple re-prices for the worse in mortgage rates. So for today mortgage backed securities have traded as low as 30 points down. The Fed will exit the Mortgage Backed Security markets next week and we will see how rates do in the short term. Stocks remain in positive territory so far today and Crude Oil remains unchanged at $80.16. if you or someone you know is considering buying, selling or refinancing realestate please contact me at 801 668 2112.