Markets Closed In Observance of Veteran’s Day – Market Update

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Markets will be closed today in observance of Veteran’s Day.

Last week, we saw the stock market drop to nearly 12,800 as European woes and fiscal cliff fears loomed in the minds of investors. The bad news for stocks (good news for bonds) is neither of these problems has made any progress toward a solution. European leaders have not made a decision on financial aid for Greece.

Here at home, the fiscal cliff grows closer and closer, with the hopes of a resolution resting on congressional bipartisanship.

Current Rates

Here are some of today’s mortgage rates:

• 30-Year Fixed Mortgage: 3.375% (3.618% APR)
• 15-Year Fixed Mortgage: 2.75% (3.22% APR)
• 7-Year ARM: 2.625% (3.131% APR)

Visit our mortgage rates page to find out how much you could save with today’s rates, or use our mortgage calculator to find more rate 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: Good housing news is bad for housing stocks 

NY Times: U.S. to Overtake Saudi Arabia as Top Oil Producer, Agency Forecasts

Chicago Sun-Times: Terry Savage: How to financially manage the fiscal cliff-hanger

This Week’s Economic Releases