It's another rodeo ride for the bond market today. The biggest market news is OIL (again), and it's push to the $130 mark. Economists' have been predicting $200 a bbl by year's end and it is starting to look like it may happen. Anyone have a Moped for sale? The Labor department's Producer Price Index(PPI) came out today, and the core (taking out energy and food) rose to .4% doubling what economists had expected. The overall PPI actually dropped, which has been a head scratcher given the cost of fuel and food recently. In mortgage news, the senate approved a bi-partisan bill today, backed by Fannie and Freddie, which would give relief to as much as 500,000 soon to be homeless borrowers. Although expected to get the veto by the president, this may be the first bill to have enough backing to overrule the veto.  The 30 yr 5.5% bond is up 15 for the day, but has been bouncing up as much as 20 and down as much as -7. I will keep a keen eye on this, but we are officially in the upper 5's in rate.

 

Karl Menzer

435-849-0212

http://www.buyatooelehome.com       

 
This post has been included in Utah Real Estate News

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Karl Menzer Tooele Utah Real Estate Lender

Tooele, UT

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karlmenzer.com

Address: 36 N Main St., Tooele, Ut , 84074

Office Phone: (435) 849-0212

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