Bond Market Scheduled for Early Close – Market Update

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Quiet market this morning as the item making the most news is declaration from Bill Gross that the fiscal cliff has more than a 50% chance of occurrence. The bond market is scheduled for an early close this afternoon, and will be closed tomorrow, in observance of the holidays.

What’s Up on Wall Street?

The Dow Jones Industrial Average decreased 26.38 points (-0.20%) while the Nasdaq fell 5.89 points (-0.19%). Also, the S&P 500 dropped 2.52 points (-0.18%).

Current Rates

Here are some of today’s rates:

• 30-Year Fixed: 3.375% (3.607% APR)
• 15-Year Fixed: 2.75% (3.108% APR)
• 7-Year ARM: 2.625% (3.111% APR)

Visit our mortgage rates page to find out how much you can save with today’s rates, or use our mortgage calculator to find more rates and loan options.

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.

Bloomberg

Americans Miss $200 Billion Abandoning Stocks

MarketWatch

U.S. Stocks Slip at Start of Abbreviated Street Session

CNNMoney

Clock Ticking on Mortgage Tax Break for Struggling Homeowners