Rate Watch 12-6-2010

Cautiously Floating:
Mortgage Backed Securities and Treasury Bonds are trading higher thanks to Fed Chairman Ben Bernanke, who appeared on "60 Minutes" last night and made cautious remarks on the economy. He said that it may take five years for the unemployment rate and the labor markets to get back to normal levels. Not the greatest news for the folks looking for jobs. Also helping the US Bond Market is the ongoing economic and political woes out of Europe. Investors are looking for US backed bonds to place their money into at the moment. Stocks are modestly lower on the day. Crude Oil is at $89.00 Per barrel, (OUCH!!!) (THAT SUCKS!!!) High fuel prices are no one’s friend!!! No economic reports slated for today. If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112.