Mortgage-Backed Securities Up – Market Update

Quicken Loans Market Update Mortgage -backed securities are up as the European Central Bank revealed a new bond program that aims to control borrowing rates. Also, Federal Reserve Chairman Ben Bernanke is set to speak after the yearly Fed meeting in Jackson Hole, Wyoming.

What’s Up On Wall Street?

All of the U.S. indexes closed in the green Friday as both investors and economists agree that the global economy is doing fine without a third round of quantitative easing (QE3). The Dow Jones Industrial Average surged up 101 points (0.77 %) while the Nasdaq Composite climbed 16.39 points (0.54 %). Also, the S&P 500 increased 9.05 points (0.65 %).

Current Mortgage Rates

Here are today’s rates for the 30-year fixed and the 15-year fixed:

30-Year Fixed 3.625% (3.861% APR) 15-Year Fixed 2.875% (3.309% APR)

Visit our mortgage rates page to view more of today’s rates.

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.

 

CNN Money

Best home deals in the best places

 

Bloomberg

Germany, France Reconnect in a Push for Crisis Solutions

 

Bloomberg

Gold set for best year since 2010 as stimulus bets increase

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