Rate Watch 4-14-2010

Alert To Lock:
Mortgage Backed Securities have met with some tough overhead resistance and have not been able to move higher over the past couple of sessions. Helping MBS improve in early trading was the Consumer Price Index for March, which met expectations. While the report indicates that inflation isn't a problem (yet), there are reasons to question whether inflation is really as low as its being reported. (What is the purpose of the reports if everyone is second guessing them!!!) Also in the news, Retail Sales in March were up significantly from February. Stocks are in positive territory so far this morning and Crude Oil is up $2 to $86.43 on inventory concerns. (There is something to second guess!) In response to a question on extended rates today Bernanke noted the wording of the last FOMC statement that extremely low rates would be needed for an extended period. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.