Rate Watch 10-20-2009

Cautiously Floating:
Mortgage Backed Securities are getting a boost higher this morning, as prices respond to weaker than expected housing numbers and tame wholesale inflation data. Stocks are down this morning. Oil is taking a breather today down $2.00 @$78.66.
Housing Starts and Building Permits both came in under expectations. In addition, the Producer Price Index--which measures wholesale inflation--unexpectedly fell due to a drop in energy prices. Next month's number could climb higher again, as oil and natural gas have both been on a tear lately.
HUD Secretary Donovan said today that the Obama administration will decide within a few weeks if it will extend the $8,000 tax credit beyond the November 30 expiration deadline.
If you or anyone you know is considering buying, selling or refinancing please contact me at 801 668 2112.