Rate Watch 5-19-2010

Cautiously Floating:
Volatility ramps up today in all markets. Currently, Mortgage Backed Securities are near unchanged levels after seesawing in a 30 point range between gain and losses all morning. Stocks having a wild day are down over 100 points and had been down 175 earlier in the session. European Stock markets close sharply lower on the day. Crude Oil is now at $70 per barrel down .44 cents. Crude slipped below $68 earlier in the session. Crude oil had been at $86 per barrel earlier in the month. Commodity traders boosted up the price of crude and now the traders are pulling back from their positions. If you or someone you know is considering buying selling or refinancing please contact me at 801 668 2112.