Rate Watch 6-16-2010

After yesterday’s drop Mortgage Backed Securities are in the green and stocks are seeing some profit taking so far this morning. Helping give Mortgage Backed Securities a boost are growing financial concerns with Spain. Crude oil is up again this morning at $77.31. Crude has had some relatively big swings in the last couple of weeks. The Producer Price Index indicated that inflation remains tame. Additionally Housing Starts and Building Permits were reported down in May. While that seems bad at first, less supply may actually help the housing industry in the long run. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.