Treasuries opened higher this morning on speculation that Greece will be unable to avoid a debt default. Later this morning, the National Association of Home Builders will be releasing their April housing market index which is expected to be unchanged. S&P just revised the U.S. long-term outlook from a stable rating to negative…mortgage-backed bonds initially sold off approximately a quarter point from this morning’s open.
Treasuries declined before economic reports showed U.S. service industries expanded in January. Ten-year yields climbed as euro-area data showed services and manufacturing output shrank less than expected. U.S. non-manufacturing index was 55 in January, slightly down from 55.7 in December, indicating economic expansion occurred.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 104.74 points (0.75%) while the Nasdaq increased 22.97 points (0.73%). Also, the S&P 500 rose 12.08 points (0.81%).
Here are some of today’s rates:
- 30-Year Fixed: 3.625% (3.808% APR)
- 15-Year Fixed: 2.875% (3.234% APR)
- 7-Year ARM: 2.625% (3.053% 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.