Rte Watch 8-25-2009

Cautiously Floating:
Mortgage Backed Securities are a bit higher this morning. Stocks are slightly higher and the markets await the Treasury Department's $42 Billion auction this afternoon. Helping Stocks this morning is news that President Obama has reappointed Ben Bernanke as Federal Reserve Chairman to a second 4-year term. In other news, the housing industry received good news when the Case-Shiller Home Price Index showed home prices rose for the second straight month. Additionally president Obama seeing signs of recovery thought the economy. Oil traders taking some profits this morning as crude falls $2.16 to $72.22 per barrel. lastly consumer confidence comes in better than expected at 54.1 -vs-47.9 expected. if you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.