Headlines Dominated by Cyprus’ New Tax Levy – Market Update

• Tweet

• Tweet

As expected, the headlines were dominated by Cyprus’ new tax levy and its effect on Cypriots. The bond market had a strong morning until the European Central Bank reaffirmed its commitment to provide liquidity to the small nation.

What’s Up on Wall Street?

The Dow Jones Industrial Average increased 74.42 points (0.50) while the Nasdaq jumped 17.79 points (0.55). Also, the S&P 500 rose 9.06 points (0.59).

Current Rates

Here are some of today’s rates:

• 30-Year Fixed: 3.625% (3.797% APR)
• 15-Year Fixed: 2.75% (3.163% APR)
• 7-Year ARM: 2.50% (2.965% 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

Dow Hits New High

Bloomberg

U.S. Stocks Rise as Policy Makers Weigh Cyprus Options

HousingWire

FHFA Dividend Fix may Provide GSE Payback Solution