Rate Watch 11-17-2010

Alert to Lock:
Mortgage Backed Securities are trading sideways today in response to this morning's tame Consumer Price Index (CPI) reading, showing lower than expected inflation. Additionally a weaker reading on Housing Starts and Building Permits. This should signal the best rates ever but the problem is this legendary investor Warren Buffet was on CNBC saying, "I think short-term and long-term Treasury Bonds and Mortgage Backed Securities are a very poor investment at the present time.” And while I know that this is just one man's opinion, the "Oracle of Omaha" is certainly very highly regarded in the investment community, and his words carry a whole lot of weight. So Mortgage Backed Securities are near unchanged levels on the day. Treasuries are in the toilet and stocks are near unchanged on the day. Crude Oil @ $81.57 is down again on the day because of the strength of the dollar. If you or someone you know is considering buying, selling or refinancing real estate please contact me at 801 668 2112.