Concerns over disagreements among U.S. political leaders with regard to the debt ceiling are leading a rally in mortgage-backed security prices this morning. Fed Chairman Ben Bernanke will make an appearance and answer questions today in Ann Arbor, MI. It will be interesting to see if there is any clarification on the Fed’s intentions to stop purchasing bonds in 2013. This week’s economic releases include, the Producer Price Index, Consumer Price Index and Housing Starts.
What’s up on Wall Street?
The Dow Jones Industrial Average dipped 0.40 points (-0.00%) while the Nasdaq decreased 13.25 points (-0.42%). Likewise, S&P 500 decreased 3.45 points (-0.23%).
Current Mortgage Rates
Here are some of today’s mortgage rates:
- 30-Year Fixed Mortgage: 3.50% (3.681% APR)
- 15-Year Fixed Mortgage: 2.75% (3.126% APR)
- 7-Year ARM: 2.625% (3.101% 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.
Reuters
Treasury, Fed kill idea of $1 trillion platinum coins to avert debt crisis
CNNMoney
California could be next oil boom state
New York Times
Apple Shares Fall on Report of Parts Orders Cuts
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