Utah Rates, Programs, Purchases or Refinaning by Utah's Mortgage Guy

Last week w actually saw mortgage rates stop climbing and level off because of the many weaker that expected economic reports

1)  Consumer Confidence numbers were weaker than expected

2)  New Home Sales are weaker than expected

3)  Jobless Claims higher than expected

Also Fed President Bernanke stated that the Fed is committed to keeping "rates low for an extended period of time" which is a good sign that inflation numbers should remain low in the near future.

If I were looking to lock in my rate this week I would do so prior to Wednesday because thats when we could see rates become unstable.  The main reason for this will be the employment reports for February will be coming out.  With out a turn around in unemployment there will be no sustainable recovery for our nation.

Weaker than expected unemployment could cause mortgage rates to go Lower, but better than excepted unemployment could cause mortgage rates to rise quickly.

As I have always said rates get worse a lot quicker than they get better.

Please let me know if I can be of service to you or your family and friends.

Kelly Whytock