Rate Watch 10-7-2009

Cautiously Floating:


Mortgage Backed Securities are trading higher, but are lower than their best levels from earlier this morning. Stocks are down slightly after being up earlier this morning as well. Crude Oil is Seesawing this morning and is currently lower. Today more Bond supply is on the way, as the Treasury will auction off $20 Billion in 10-year Notes at 1 pm Eastern Time. Yesterday's 3-year Note auction wasn't received very well, so Traders will be watching today's auction very closely. No economic reports today of any importance. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.