Rate Watch 10-1-2010

Cautiously Floating:
Mortgage Backed Securities have had a volatile day and week of trading. Stocks are looking to kick off October with more positive gains and have ended the day up 41.63 to close the week at 10,829. The stock market has enjoyed 4 weeks of improvement and last month enjoyed the best September since 1939. In economic news, Personal Income and Spending came in better than expected and Core inflation remained tame. Consumer Sentiment was slightly higher, while the ISM Manufacturing was below estimates and the worst number since November. Crude Oil closed @ $81.66 which is a 7 week high. Gold closes at an all time high of $1320. Last but not least Ford sales up 46% in September and GM sales up 22% in September compared to last year. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.