Rate Watch 5-8-2009

Cautiously Floating:
After the sell off of Mortgage Backed Securities over the past couple of sessions both Stock and Mortgage Bonds are in positive territory this morning. The Banking Stress tests reveal a stable banking system but additional cash will need to be raised by most of the major banking institutions around the nation. Non Farm Payroll numbers are better than expected this morning. Oil is at $58 per Barrel up today after closing lower yesterday. If you are considering Buying, Selling or Refinancing please contact me at 801 668 2112.