Rate Watch 5-18-2010

Cautiously Floating:
Mortgage Backed Securities are up on the day so far. The pattern for MBS’s as of late is to start the day off higher and end the day near unchanged levels. Stocks started the day strong but have since moved lower. The US Dollar gains against the Euro as the problems continue to mount. Crude Oil is up $1.57 @ $71.50 per barrel reversing a one week sell off. Housing Starts up 5.8% and Building permits fall 11.5% well below estimates. “Good news Bad news”. If you or someone you know is considering buying, selling or refinancing please contact us at 801 668 2112.