Rate Watch 8-17-2010

Cautiously Floating:
Mortgage Backed Securities are trading sharply lower this morning. Stocks are enjoying a positive day currently up 171 points. Inflation at the wholesale level in the form of the Producer Price Index (PPI) came in hotter than expected for the year-over-year reading and is weighing on the Bond markets.Housing Starts and Building Permits were reported lower than expected as demand for housing has slowed over the past few months, due to the expiration of the Home Buyer Tax Credit and persistently high unemployment. Crude Oil is up 94 cents@ $76.18 per barrel. If you or someone you know is looming to purchase, sell or refinance real-estate please contact me at 801 668 2112.