Rate Watch 9-16-2010

Alert to Lock:
Mortgage Backed Securities are trading lower following through to the downside after yesterday's selloff. Economic news this morning was mixed. Initial Unemployment claims were lower than expected, while inflation at the wholesale level in the form of the Producer price Index was a bit hotter than anticipated. The Philadelphia Fed Index of manufacturing came in negative for the 2nd month in a row. Stocks, treasuries and Crude Oil all lower in the early trading so far today. Foreclosure filings were up 4% in August. Gold on the other hand has hit another record high today @ $1278 per ounce. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.