Rate Watch 10-13-2010

Alert to Lock:
Mortgage Backed Securities are lower this morning as Stocks push higher. Yesterday, the Minutes from the Sept 21st Federal Reserve Meeting pretty much confirmed that another round of Quantitative Easing (QE2) is coming, and is likely to be announced at the November 3rd Fed Meeting. With that news traders are selling MBS and Government Backed Treasuries. Crude Oil is up this morning at $82.33. Gold is at another all time high today up $26.00 per ounce at $1373 per Troy Ounce. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.