Treasuries were up yesterday as speculation that Hurricane Sandy is going to hinder economic growth. You may hear some argue that destructive events, like Sandy, provide a short term economic stimulus, since large sums of money are needed to pay for repairs. However, the extra flow of money spent on repairs only replaces the capital stock that was lost in the catastrophe, and does not represent economic growth.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 113.43 points (0.87%) while the Nasdaq rose 19.71 points (0.66%). Also, the S&P 500 went up 7.89 points (0.56%).
Current Rates
Here are some of today’s rates:
- 30-Year Fixed: 3.375% (3.638% APR)
- 15-Year Fixed: 2.75% (3.22% APR)
- 7-Year ARM: 2.50% (3.103% 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.
HousingWire
Jobless Claims Decline by 9,000 Filings
MarketWatch
U.S. Stock Futures Rise on Heavy Data Day
MReport
Falling Supply to Create Spike in New Home Prices
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