Rate Watch 9-29-2010

Cautiously Floating:
Mortgage Backed Securities continue to battle resistance as this has occurred eight times since early August, where Mortgage Bonds have traded up to resistance - but each time, have been turned lower. It seems impossible that rates could get any better than current levels.
Today the Government and the markets seem ready for another round of “Quantitative Easing” this is where the government just randomly adds money to its books and uses it to strengthen its monetary positions. “It’s crazy and could lead to HYPER INFLATION!” On the news the dollar is weaker and gold is soaring as it hits another all time record. Gold @ $1314. Crude oil is at $76.06 and stocks continue to seesaw near unchanged levels. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.