Rate Watch 11-16-2010

Alert to Lock:
Mortgage Backed Securities have already had a volatile morning and are currently near unchanged levels after yesterday’s selloff! Yesterday MBS ended the day down 109 ticks which is one of the worst days in history for MBS. Today, Crude Oil is down $2 per barrel at $83.21 per barrel. This is happening as traders are selling their MBS’S, Treasury Bonds, Stocks and Commodities and are moving into CASH!!! The dollar is stronger on the day! Stocks have been down as much as 200 points so far on the day.
Yesterday, a group of Republican officials and financial executives pushed to halt the 2nd round of Quantitative Easing (QE) by the Federal Reserve saying that it is setting up the nation for an inflation surge in the future.
The term Quantitative Easing (QE) describes a form of monetary policy used by the Federal Reserve to increase the supply of money in an economy when interest rates are either at, or close to, zero.
If you or someone you know is considering buying, selling, or refinancing please contact me at 801 668 2112.