Find out how much you can save with our low mortgage rates. Let's talk today!

Cyprus Announces New Look Levy on Bank Deposits – Market Update

by Anthony Fontana on March 18, 2013 in Market Update

Over the weekend, Cyprus announced a new look levy on bank deposits causing uproar from depositors. The plan will tax 6.75 percent on deposits of less than 100,000 Euros as part of the rescue plan for the country.

What’s Up on Wall Street?

The Dow Jones Industrial Average decreased 41.98 points (-0.29) while the Nasdaq also fell 16.14 points (-0.50). Also, the S&P 500 dropped 8.19 points (-0.52).

Current Rates

Here are some of today’s rates:

30-Year Fixed: 3.625% (3.787% APR)
15-Year Fixed: 2.75% (3.126% APR)
7-Year ARM: 2.50% (2.965% 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.

CNNMoney

Markets Drop Amid Cyprus Bailout Worries

Bloomberg

Traders Short Junk-Bond ETFs as Gains Top 100 Percent: Credit Markets

HousingWire

Builder Confidence Continues Downward Spiral