Rate Watch 4-28-2010

Alert to Lock:
Yesterday, we saw a huge rally in Mortgage Backed Securities after Greece's debt was downgraded to "junk" status. However, we're seeing a reversal this morning. Currently MBS’s are down 24 points. Stocks are seesawing near unchanged levels and Crude oil is down @ $82.44 Per Barrel. The Fed's Policy Statement and Interest Rate decision will be released this afternoon. Two important topics that may move the markets are what the Fed says about selling its Mortgage Backed Securities holdings and whether the Fed continues to say that rates will remain low for an “extended period” of time. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.