Rate Watch 10-8-2010

Cautiously Floating:
Mortgage backed securities are up this morning and are at all time record levels! Stocks are enjoying another nice day as well. Stocks are at 11,091 for the first time in a long while. The Labor Department reported today that employers shed 95,000 workers in September and was much worse than anticipated. The Unemployment Rate remained at 9.6%. Because this employment report gave a mixed picture with no clear direction, the debate over Quantitative Easing 2 (QE2) is heating up more than ever and there may be an announcement on QE at the next Fed meeting on November 3. Crude oil is up at $83.31 per barrel. If you or someone you know is considering buying, selling or refinancing real-estate please contact me at 801 668 2112.