Rate Watch 5-3-2010

Alert to Lock:
Mortgage Backed Securities are down this morning. The problems in Greece have eased over the weekend with news of a bailout, which has sent MBS markets lower as investors unwind their safe haven positions. Despite the huge oil spill and the Goldman Sachs saga stocks are in rally mode so far this morning. Stocks are higher by 136. Personal Income rose in March and Personal Spending rose by the most in five months, while Personal Savings fell to its lowest level since September 2008. Also this morning, the Fed's favorite gauge of inflation, the Core Personal Consumption Expenditure Index, was reported in line with estimates for March. If you or someone you know is considering buying, selling or refinance real estate please contact me at 801 668 2112.