Four Days Remain Ahead of the Fiscal Cliff – Market Update

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Bond markets are up again for the third straight day as market participants speculate that U.S. lawmakers will be unable to reach an agreement to avoid the budget stalemate of more than $600 million in tax increases and spending cuts.

What’s Up on Wall Street?

The Dow Jones Industrial Average decreased 81.24 points (-0.62%) while the Nasdaq dropped 11.72 points (-0.39%). Also, the S&P 500 fell 10.12 points (-0.71%).

Current Rates

Here are some of today’s rates:

• 30-Year Fixed: 3.375% (3.596% APR)
• 15-Year Fixed: 2.75% (3.089% APR)
• 7-Year ARM: 2.50% (3.053% 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.

HousingWire

30-Year, Fixed-Rate Mortgage Finishes Year Near Record Lows

The Wall Street Journal

Cliff Talks Down to the Wire

CNNMoney

Stocks Fall Under Fiscal Cliff Pressure