Rate Watch 5-11-2009

Cautiously Floating:
Mortgage Bonds are up this morning. (Good News!) Stocks are down this morning. The market activity is being fueled by reports that many banks are taking action to repay TARP funds back to the government. While this can be seen as a healthy sign for the economy, the way to raise capital is to sell newly created shares of company Stock, which is a bad thing short-term. Additionally this morning GM is saying that Bankruptcy is probable.
Stocks have had a sharp rise of 30% over the past couple of months.
Unemployment rate may be as high as 15% when individuals who have to settle for part time work are considered in the estimates.
If you or anyone you know is considering buying, selling or refinancing please contact me at 801 668 2112.