The market is slightly down this morning. Some of the key economic releases this week include today’s new home sales report which is expected increase. On Tuesday, another housing report will be released and the Treasury will begin their weekly auctions. They will be auctioning a total of $104 billion of securities this week. Also, there are a lot more earnings releases slated for the week including the GDP report.
Market speculation this morning continues to center around the fiscal cliff. Treasuries are also falling this morning, and with that there is a little bit of pressure on mortgage-backed security prices.
What’s Up on Wall Street?
The Dow Jones Industrial Average decreased 50.38 points (-0.39%) while the Nasdaq dropped 5.55 points (-0.19%). Also, the S&P 500 fell 4.02 points (-0.29%).
Here are some of today’s rates:
- 30-Year Fixed: 3.375% (3.607% APR)
- 15-Year Fixed: 2.625% (3.093% APR)
- 7-Year ARM: 2.50% (3.083% 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.