Damage from Hurricane Sandy was extensive. Massive flooding and power outages plague the east coast as all financial markets remained closed for the day. New York’s subway system is completely shut down, with estimates as high as four days just to pump the water out. With no subway system, there are no clerical and support workers, meaning there is no Wall Street.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 3.53 points (0.03%) while the Nasdaq went up 1.83 points (0.06%). Also, the S&P 500 decreased 1.03 points (-0.07%). Note: Due to Hurricane Sandy, these numbers have unchanged since yesterday.
Current Rates
Here are some of today’s rates:
- 30-Year Fixed: 3.375% (3.638% APR)
- 15-Year Fixed: 2.75% (3.183% APR)
- 7-Year ARM: 2.625% (3.131% 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.
National Mortgage News
Hurricane Sandy Will Affect Mortgage Closings in Mid-Atlantic, Northeast, At Least
The Washington Post
Limit on Mortgage Interest Deduction Would Penalize Only a Minority of Taxpayers
HousingWire
VA Guarantees 20 Million Mortgages
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