Rate Watch 5-6-2011

Cautiously Floating:

Mortgage Backed Securities are enjoying a positive day so far today.  Stocks down 120 points on the day after a lower than expected ADP Report and the ISM Service Index is the lowest since December 2009.  Crude oil is holding steady today @ $110 per barrel.  Wall Street is saying that they are confident the congress will raise debt limit and keep the government rolling along.  If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112. 

Rate Watch 4-21-2011

Alert to Lock: 
Trading was quiet today in this holiday shortened week. The Dow Finished the day higher at 12,477.49. Gold closed over $1500 per ounce and Crude Oil finshed the day at $112.29.   All capital markets are closed tomorrow in observance of Good Friday. If you or someone you know is considering buying, selling or refinancing realestate please contact me at 801 668 2112. 

Rate Watch 4-20-2011

Alert to Lock:
Three days after the US downgrade of Treasuries from stable to negative the Dow ended the day at near 3 year highs @ 12,444. Mortgage Backed Securities spent most of the day in the red and took a back seat to the red hot stock markets. Crude oil was up today @ $111.42 and Gold finished the day @1498 per ounce. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.

Rate Watch 4-19-2011

GOLD hits $1500 per ounce today. The other markets are quiet so far today. Crude Oil is unchanged at $10.41 per barrel. McDonalds plans to hire 50,000 new workers today across the nation in 14,000 different restaurants. In housing news, the Commerce Department reported that Housing Starts and Building Permits came in better than expected for March, signaling that the sector is still alive.
Home loan rates remain historically low and continue to be an opportunity for refinancing and home buying. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-18-2011

Given the extreme volatility in the market place we are advising Locking:
Most all US Financial markets fell this morning after Standard & Poor's lowered its outlook for the credit rating of the United States Of America today to negative, but still affirmed the AAA rating. Stock markets are down over 200 points on the news. The White House is calling the news politically motivated. Gold is toying with $1500 per ounce and Crude Oil is down @ $107.07 per barrel. There are no economic reports due for release today. If you or someone you know is considering buying, selling or refinancing real-estate please contact us at 801 668 2112.

Rate Watch 4-15-2011

Continued Locking Recommendation:
Stocks, Treasuries and Mortgage Backed Securities are trading higher today in response to a tame monthly Consumer Price Index (CPI) inflation reading and news from overseas. Additionally the New York State Manufacturing report rose for the fifth consecutive monthly gain and the best level in a year. Crude Oil is up today at $109.09 per barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-13-2011

Alert to Lock:
Stocks are up this morning as they attempt to rebound from yesterday's triple digit losses. Mortgage Backed Securities are in the RED as investors shift back into more risk based trades. Giving Stocks a boost this morning is solid earnings reports from JP Morgan Chase, as well as a better than expected Retail Sales Report. Crude Oil has stabilized today after yesterday’s selloff. Crude Oil this morning is at $106.41 per barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-12-2011

Continued Locking Recommendation:
Stocks are lower today and US Treasuries as well as Mortgage Backed Securities are up today, receiving safe haven buying on news that the Japan nuclear crisis threat was raised to the highest level possible. The FED’s Three Year Treasury Note auction went very well today putting all the bond markets in a very good mood. Inflation fears have not gone away but the Bond market’s are in a good mood for the moment. Crude Oil down $3.71 @ 106.33 per barrel after a report from Goldman Sachs showed that Crude Oil prices were exaggerated based on supply and projected demand. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-11-2011

Alert to Lock:
Mortgage Backed Securities are near unchanged on the day. Stocks are slightly to the positive. Crude Oil is down at $111.44 per barrel. The government averted a shutdown late Friday night and reached a deal to fund the government through Thursday 4-14-2011. This gives Congress additional time to draft and pass a spending bill for the rest of the fiscal year. There are no economic reports due for release today. Inflation fears have perked up in recent weeks and are weighing on the markets today. If you or someone you know is considering buying, selling, or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-8-2011

Alert To Lock:
Mortgage Backed Securities opened the day sharply lower on inflation worries, global unrest and it remains uncertain whether Congress will get a budget agreement passed in time to avoid a government shutdown. There is a chance that a one week extension will be passed to give negotiators more time. This is helping to push the US Dollar lower. During the last government shutdown in 1995, foreign investors became sellers of U.S. debt securities. Crude Oil up this morning at $111.63 and GOLD hits another record high at $1,473 per ounce. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.

Rate Watch 4-7-2011

Cautiously Floating:
After another crazy day of trading Mortgage Backed Securities finished the day near unchanged levels but were able to pare losses after news that a new earthquake hit Japan,. Stocks finished the day near unchanged levels after being down most of the day as well. Crude Oil settled at $110.30 up $1.47. There are no economic reports set for tomorrow. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-6-2011

Alert To Lock:
Inflation, Impending Government Shutdown, Crude Oil and Global Uncertainty are all weighing heavy on Mortgage Backed Securities today. MBS are starting the day lower, adding to yesterday's losses. Today there are no economic reports scheduled for release. Stocks are near unchanged on the day. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-5-2011

Continued Locking Recommendation:
All the news out today is that: US Debt is "unattractive" at current levels, inflation is heating up and the Government will cease to operate efficiently until the US Debt ceiling is increased again. This has spooked the bond markets and Mortgage Backed Securities are certainly having their jitters. Stocks are having a rather quiet day and are near unchanged levels. Crude Oil is down slightly @ 108.44 Per Barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 4-4-2011

Cautiously Floating:
Mortgage Backed Securities are starting the day higher. Which is very good news for Mortgage Interest Rates. There are no economic reports for today and the calendar for the rest of the week is rather light. There are also no Treasury auctions this week. Crude Oil is higher again this morning @ 108.44 Per Barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112

Rate Watch 4-1-2011

Cautiously Floating: (This is no April Fools Day JOKE!!!)


Stocks are enjoying another nice day today. The DOW is at a two year high today @ 12,389 that’s up nearly 100 points on the day. The Labor Department reported today that there were far more jobs created in March than expected while the Unemployment Rate fell to the lowest level since March of 2009. And lastly Crude Oil has spiked higher again today @ 107.71 per barrel. (That Sucks!!!) If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112

Rate Watch 3-31-2011

Alert to Lock:
Stocks and Mortgage Backed Securities are trading near unchanged levels so far on the day today. Initial Jobless Claims pretty much met expectations this morning, but did little to influence the markets. Tomorrow brings the monthly government Jobs Report and volatility could heat up once again. Today Crude Oil is up $2 Per Barrel @ $106.86. Inflation is on every financial mind at the moment. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.

Rate Watch 3-30-2011

Cautiously Floating:
Mortgage Backed Securities are trading higher this morning as the Bond markets try to stabilize from the recent downtrend. Stocks are near unchanged on the day. In economic news, ADP reported that private job creations in March were in line with expectations. The number showed that the trend in the labor market continues to improve, albeit at a slow pace. Crude oil is trading down this morning @ $104.46 Per Barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 3-29-2011

Alert to Lock:
Mortgage Backed Securities are trading lower today ( this means higher Mortgage Rates) as prices attempt to remain above a key technical level of support. Stocks are up. In economic news, the Case Shiller Home Price Index fell for a 7th straight month and will most likely continue to do so as foreclosures weigh on the housing market. Crude Oil trading higher today @ 104.14 per Barrel on news that Gadhafi led forces have halted rebel force advance. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.

Rate Watch 3-28-2011

Alert to Lock: 
Mortgage Backed Securities as well as stocks are near unchanged levels today. The markets have taken an unexpected day off from the normal turbulent trading of late. However Mortgage Backed Securities are seeing the "safe haven" trade continue to unwind, with prices lower seven out of the last eight trading days. A reading on inflation from the Core Personal Consumption Expenditure was higher than the previous look and is weighing heavy on the Financial Markets today.
If you or someone you know is considering buying, selling or refinancing Real-Estate please contact me at 801 668 2112.

Rate Watch 3-25-2011

Alert to Lock:
After 5 days of losses, Mortgage Backed Securities are down again today after opening to the upside. Continued Inflation fears dominate the trading of all bonds. Treasuries are having a rough day as well with sellers 6 to 1 over buyers. The Fed seems to be the major buyer of treasuries today having purchased 5.8 billion but 36 Billion on sale from investors. Crude Oil is @ $105.60 today. Consumer sentiment numbers were in line with expectations. Lastly radiation fears continue to dominate the scene in Japan. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.