10-Year Yield Down – Market Update

Quicken Loans Market Update The 10-year yield is down this morning as mortgage-backed securities have gained slightly from their close yesterday. Also, German Chancellor Angela Merkel insists Germany and France will aggressively persuade Greece to make the needed changes to its economy to rectify their debt crisis, while Greek Prime Minister Antonis Samaras is in Berlin today.

What’s Up On Wall Street?

All of the U.S. markets closed in the red yesterday as investors worried that the Federal Reserve may not take further measures to stimulate the economy. The Dow Jones Industrial Average plunged 115 points (-0.88 %) while the Nasdaq Composite dropped 20.27 points (-0.66 %). Also, the S&P 500 slipped 11.41 points (-0.81 %).

Current Mortgage Rates

Here are today’s rates for the 30-year fixed and the 15-year fixed:

30-Year Fixed 3.50% (3.765% APR) 15-Year Fixed 2.875% (3.309% APR)

Visit our mortgage rates page to view more of today’s rates.

Financial Links

Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.

CNN Money

New York Fed turns AIG bailout into $18 billion profit

 

CNN Money

Where the jobs are

 

Bloomberg

Fuel Cost Plus U.S. Drought Equals High Food Prices

 

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