Rate Watch 4-22-2010

Cautiously Floating:
Mortgage Backed securities are trading higher this morning, volatility is the name of the game on Wall Street. Stocks are down big as Consumer Confidence rose sharply in April to its highest reading since September 2008. (Go Figure) This number is important because the more confidence consumers have; the more likely it is that they will help fuel the economy. The S&P has cut Greece’s stock rating to Junk, this seems to be weighing heavy on stocks around the globe. Portugal got its Stock rating cut is well. All this bad news for stocks is helping MBS’s at the moment. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.