Rate Watch 11-29-2010

Cautiously Floating:
Mortgage Backed Securities are starting the day higher, as investors park money in the safe haven of US Dollar denominated assets like US Treasury Bonds and Mortgage Backed Securities.  This in response to the ongoing debt and banking woes out of the European Union (EU). There are no economic reports set for release today - but the rest of the week brings some key economic data from manufacturing, housing and the all important Jobs Report will be released on Friday. It should be a week of high speculation.  President Obama proposes a pay freeze for Civilian Federal Workers. Stocks opened the day to the down side and are trying to fight back to near unchanged levels.  Today is Cyber Monday and it is expected to bring in a record1 Billion in sales today.  Early reports show that retail sales over Black Friday weekend rose 6.4% from last year.  Crude oil up again at $84.66 per barrel.  If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.