Rate Watch 8-20-2009

Cautiously Floating,
Mortgage Backed Securities flat on the day, Stocks up 45 at the time of this report and crude oil is continuing to move higher at $74 / Barrel.
Helping Mortgage Backed Securities stay out of the red this morning was the Initial Jobless Claims report, which came in higher than expected after a string of better-than-expected reports recently. The news was a bit sobering, showing the labor market remains weak. Also in the news, the volatile Philly Fed Index showed the first manufacturing increase in a year and the highest reading since November 2007. If you or someone you know is considering Buying, selling or refinancing please contact me at 801 668 2112.