Rate Watch 11-12-2010

Alert to Lock:
Mortgage Backed Securities are sharply lower this morning on fears that China may raise interest rates to fight quickly rising inflation. This news has most of the markets lower this morning including Stocks, Treasuries and Crude Oil. Mortgage Backed Securities investors are selling today in hopes of outpacing inflation.
The first round of Quantitative Easing 2 officially starts today, as the New York Federal Reserve will be buying Treasuries in the open markets and continue through December 9.
Consumer Sentiment came in a bit better than expectations and better than last month's read…but the market had little reaction to the news. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.