Rate Watch 8-31-2010

Alert to Lock:
Stocks turn positive this morning as Mortgage Backed Securities are at record high levels. The reason for the lock recommendation is that as Mortgage Backed Securities are at record nose bleed levels they typically are turned backed from these lofty levels as traders take profits. Crude Oil is lower this morning at $73.64 per barrel. The Case Shiller home price index rose today above estimates as the foreclosure problems seems to be getting flushed out in many areas. FOMC meeting minutes are due out later today. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.