Rate Watch 6-11-2010

Cautiously Floating:
Mortgage Backed Securities continue to seesaw around unchanged levels on the day. MBS’s got a boost this morning from a weak Retail Sales number, but those gains were quickly erased by a better-than-expected Consumer Sentiment number. Crude Oil down this morning @ $74.36 per barrel.
There is growing debate among Fed members about whether or when to raise the Fed Funds Rate as well as when the Fed should begin selling back its Mortgage Backed Security holdings. Remember, any action by the Fed will likely impact MBS prices and raise rates. Contact me today to see how you can benefit from the current incredibly low rate, which may not last much longer 801 668 2112.