Rate Watch 8-16-2010

Cautiously Floating:
Mortgage Backed Securities are up so far on the day. Softer economic data gave support to the Bond markets and kept a lid on equity markets during the session. The Dow ended the day at 10,302.01. Oil also closed near unchanged at $75.25/barrel. The Fed will also begin to purchase Treasuries tomorrow. That will continue to be positive for mortgage interest rates. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.