Rate Watch 8-26-2009

Cautiously Floating,
Mortgage Backed Securities, Stocks and Crude Oil all near unchanged levels this morning.
New Home Sales surged 9.6% in July from June’s reading, signaling that the housing market is stabilizing. Adding to the positive tone of the report was a drop in inventories, which now stands at a 7.5 month supply from last month's 8.8 month reading. The markets are looking for the results of the huge treasury auction currently in progress to get some direction. If you or anyone you know is considering buying, selling or refinancing please contact me at 801 668 2112.