Rate Watch 7-2-2009

Cautiously Floating:
Mortgage backed securities are enjoying a decent day after a dismal jobs report from the Fed. Stocks are off 170 at the time of this report which is benefiting Mortgage Backed Securities as well. Additionally the Treasury announced that next weeks auction will be 73 Billion which is more manageable that the 104 Billion that was auctioned last week. Oil down this morning at $68.27 per barrel on fears that the global recession could be deeper and wider that originally thought. Financial markets are closed tomorrow 7-3-2009 in observance of the 4Th of July weekend. If you or anyone you know is considering buying, selling or refinancing please contact me at 801 668 2112.