Fed To Purchase $1.2 Billion in Mortgages Today – Market Update

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The release of Federal Reserve meeting minutes revealed that numerous policy makers are leaning toward a third round of quantitative easing (QE3) if the economy does not gain momentum soon. Also, the Fed will purchase $1.2 billion in mortgages today.

What’s Up On Wall Street?

The U.S. markets closed with mixed results yesterday as the latest release of Federal Reserve minutes revealed that central bankers are leaning toward more stimulus. The Nasdaq Composite increased 6.41 points (0.21 %) while the S&P 500 inched up 0.32 points (0.02 %). Also, the Dow Jones Industrial Average dropped 30.82 points (-0.23 %).

Current Mortgage Rates

Here are today’s rates for the 30-year fixed and the 15-year fixed:

30-Year Fixed 3.50% (3.776% APR) 15-Year Fixed 2.875% (3.328% APR)

Visit our mortgage rates page to view more of today’s rates.

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.

CNN Money

Chinese manufacturing slumps to 9-month low

CNN Money

The 15 college majors with the biggest payoffs

Bloomberg

Purchases Of New Homes In U.S. Probably Rebounded in July