The approach of the dreaded fiscal cliff is fueling demand of government debt. With money being pushed to the safety of Treasuries, we have seen a slight rally in mortgage backed securities (MBS) prices.
What’s Up on Wall Street?
The Dow Jones Industrial Average decreased 23.19 points (-0.18%) while the Nasdaq dropped 7.22 points (-0.25%). Also, the S&P 500 fell 3.12 points (-0.23%).
Current Rates
Here are some of today’s rates:
- 30-Year Fixed: 3.375% (3.607% APR)
- 15-Year Fixed: 2.75% (3.183% APR)
- 7-Year ARM: 2.50% (3.073% 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
Stocks: All Eyes on Fiscal Cliff Debate
HousingWire
Review Finds FHA Mortgage Insurance Fund Short $13.5 Billion
Bloomberg
Industrial Production in U.S. Drops 0.4% on Sandy Effect
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