Rate Watch 6-17-2010

Cautiously Floating:
Mortgage Backed Securities are trading higher this morning after the release of tame inflation data in the Consumer Price Index, as well as a weak Initial Jobless Claims report. Stocks are near unchanged levels as British Petroleum CEO Hayward getting slammed on Capitol Hill. Crude Oil is down this morning @ 76.80 per barrel. Gold is down $3.90 @ $1,120 today in early trading. The Philadelphia Fed Manufacturing Index came in far worse than expected and down significantly from last month's reading. In fact, it was the worst Philly Fed number seen in a year. This is another tuff sign for the already struggling labor markets. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.