Mortgage rates moved higher still yesterday. Investors pulled their money out of mutual funds, which invest in bonds and MBS, causing bond prices to fall and rates to increase. Jobless claims will be released today; economists forecast layoffs jumped to 34% in August. Hopefully this will be enough to cause a rally in the market today. All eyes will be on Syria and the political unrest in the region.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 45.70 points (0.31%) while the Nasdaq also jumped 13.27 points (0.37%). Also, the S&P 500 rose 39.83 points (0.61%).
Here are some of today’s rates:
- 30-Year Fixed: 4.625% (4.852% APR)
- 15-Year Fixed: 3.625% (4.011% APR)
- 5-Year ARM: 3.125% (3.188% APR)
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.