Rate Watch 6-30-2010

Alert to Lock:
Mortgage Backed Securities are starting the day lower, likely as a result of some profit taking after the recent run-up in prices. Not much action in the other markets so far today. Stocks are near unchanged levels. Traders seem to be squaring their positions and getting themselves ready for the 4th Of July weekend. Markets will be closed on Monday July 5th. Crude Oil Flat at $76.00 per barrel. The ADP Report on private sector job growth came in well below expectations and down sharply from the prior reading. The worse-than-expected report doesn’t bode well for the all-important Jobs Report due out Friday. Labor markets are still struggling for sure. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.