RATE Watch 8-10-2010

Carefully Floating:
It's Fed day today and with the slowing economy and continued weakness in the job markets we will be watching the markets closely and listening for clues on the Fed's next move.
The Labor Department reported today that preliminary Productivity for the 1st quarter fell more than expected, while Unit Labor Costs rose. The slowdown in productivity is interesting, as higher productivity does many things. It keeps operating costs lower, it lessens the need for hiring, and it works to keep prices down. Crude oil is down $1.39 @ $80.27. Mortgage Backed Securities are near unchanged levels and stocks are down over 100 points at the moment. If you or anyone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.