Mortgage-Backed Security Prices are Up Slightly This Morning – Market Update

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In today’s episode of As the Debt Crisis Turns, Italy’s Prime Minister Mario Monti said that he intends to resign. This has obviously led to more uncertainty in the market, and a rally in the safest asset. Mortgage-backed security prices are up slightly this morning as well.

What’s up on Wall Street?
The Dow Jones Industrial Average gained 19.63 points (+0.15%) while the Nasdaq also went up 9.91 points (+0.33%). Likewise, S&P 500 increased 0.52 points (+0.04%).

Current Mortgage Rates:
Here are some of today’s mortgage rates:

• 30-Year Fixed Mortgage Rates: 3.25% (3.48% APR)
• 15-Year Fixed Mortgage Rates: 2.625% (3.018% APR)
• 7-Year ARM: 2.50% (3.043% 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 loans 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.

CNN Money
Federal Reserve may buy more bonds

Reuters
Wall Street edges up with help from McDonald’s

The Wall Street Journal
Consumer Spending Wobbles