Rate Watch 12-2-2010

Alert to lock:
After a huge selloff in mortgage backed securities yesterday MBS’s are up today with bargain hunters out in full force. However the looming jobs report tomorrow is expected to be very good for the labor market but will negatively affect MBS’s. So the safe bet today is to lock ahead of tomorrow’s craziness! Other good news from the National Association of Realtors is that they reported that Home Sales jumped 10.4% in October Nationally. Utah has not seen that kind of bounce but we expect some better numbers going forward. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.