The Dow dropped over 300 points yesterday as investors are shifting their focus to Europe and the upcoming fiscal cliff. The bad news is we captured most of the benefit of mortgage backed security (MBS) prices yesterday, so today we’ll see a decline in price.
What’s Up on Wall Street?
The Dow Jones Industrial Average decreased 69.14 points (-0.53%) while the Nasdaq fell 23.91 points (-0.81%). Also, the S&P 500 dropped 9.06 points (-0.65%).
Current Rates
Here are some of today’s rates:
- 30-Year Fixed: 3.375% (3.638% APR)
- 15-Year Fixed: 2.875% (3.291% APR)
- 7-Year ARM: 2.625% (3.141% 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.
Reuters
Trade Deficit Narrows, Economy Resists Global Chill
MarketWatch
U.S. Stock Erase Gains on Green Concerns
CNNMoney
China Talks Reform as Transition Begins
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