Rate Watch 10-5-2010

Cautiously Floating:
Mortgage Backed Securities are near unchanged levels so far today and continue to test a strong ceiling of resistance. Last night Fed Chairman Ben Bernanke spoke and the markets were looking for clues on which way the Fed was leaning in regards to another round of Quantitative Easing (QE is the practice of the government clearing debt off their books and adding capital into the system. ). But Mr. Bernanke didn't offer any clues. Gold continues to soar and hits another record high today of $1330. Stocks are enjoying a nice day today and Crude Oil is up at $82.47 per barrel. Lastly the Dollar is near lows for the year against the euro and the yen. This is making exports from china and Europe very affordable. Travel from these places to the USA is very affordable as well. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.