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%).
- 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)
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.
New York Times