Euro-Area Recession Deepened in Fourth Quarter – Market Update

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Treasuries improved after news that the euro-area recession deepened in the fourth quarter. Reports showed the euro-area economy shrank .6 percent in the final months of 2012. That is the worst performance in almost four years, as output slumped in its three largest economies.

What’s Up on Wall Street?

The Dow Jones Industrial Average decreased 13.44 points (-0.10%) while the Nasdaq fell 10.54 points (-0.33%). Also, the S&P 500 dropped 2.96 points (-0.19%).

Current Rates

Here are some of today’s rates:

• 30-Year Fixed: 3.625% (3.839% APR)
• 15-Year Fixed: 2.875% (3.216% APR)
• 7-Year ARM: 2.625% (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.

CNNMoney

Europe’s Recession Deepens as Exports Suffer

Reuters

Jobless Claims Hint at Firming Job Market Conditions

New York Times

Berkshire and 3G Capital to Buy Heinz for $23 Billion