Rate Watch 7-13-2009

Cautiously Floating:
Stocks up nicely this morning at the expense of Crude oil which is down again this morning at $58.44. Crude was trading as high as $73 recently and as low as $38 dollars a barrel at the first of the year. The Economic Cycle Research Institute is a respected New York based independent forecasting group. They believe and are suggesting a near term end to the recession. Mortgage Backed Securities are slightly lower this morning but are trading between a solid floor of support and a tuff layer of resistance. Be prepared to lock should the situation arise. There are no Treasurie auctions today besides the unusual bill offerings. If you or someone you know is considering Buying, selling or Refinancing please contact me at 801 668 2112.