Rate Watch 8-24-2009

Cautiously Floating:
Mortgage Backed Securities up this morning. (Good News for Rates) Stocks are unchanged for the day and Crude Oil is up for the day at $74.72 Per Barrel. Gas prices are heading up and reflecting the crude oil increase. Crude is at its highest level of the year. There are no economic reports due for release today, but the rest of the week's reports will give investors a broad view of the economy. In addition, the Treasury Department is going to auction off $109 Billion in Securities on Tuesday, Wednesday and Thursday, which could move the market.
A program that will start this fall will offer consumers cash to help buy new home appliances. The federal government has set aside $300 million for the program as part of the economic stimulus plan. If you or anyone you know is considering buying, selling or refinancing please contact me at 801 668 2112.