Rate Watch 9-28-2009

Cautioulsy Floating:

Stocks are surging and enjoying a good morning. Mortgage Backed Securities are trading near unchanged levels to start the week. Trading volume may be light today because of the Jewish high holy day of Yom Kippur, and lighter trading volume can make the market susceptible to greater volatility.


There are no economic reports set for release today; however, the rest of the week is filled with important releases, including Friday's heavyweight Jobs Report. In addition, there are no big Treasury auctions scheduled for this week, but on Thursday the Treasury will announce the size of next week's auctions and this announcement could be a market mover.

The Obama Administration could announce this wek to commit as much as $35 Billion to state and local housing agencies to help low/moderate income families. 

If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.