Rate Watch 7-20-2010

Alert to Lock:

Mortgage Backed Securities continue to be in an overbought situation but started the day strong but ended the day near unchanged levels. Stocks started the day poorly down over 150 points but managed to gain 75 points by the end of the day at 10,227. Crude Oil ended the day at $77.86 up .68 cents on the day. Fed Chairman Bernanke on Capitol Hill tomorrow testifying on the monetary policy. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.