The International Monetary Fund cut their economic forecasts for countries around the globe as an “alarmingly high” risk of a steeper slowdown is present. When governments calculate the effect of austerity measures on future economic output, they use a multiplier of 0.5, meaning for every dollar cut from government spending, 50 cents would be lost in economic output.
What’s up on Wall Street
The Dow Jones Industrial Average dropped 2.07 points (-0.02%) while the Nasdaq fell 21.82 points (-0.70%). Also, S&P 500 decreased 2.09 points (-0.14%).
Current Rates
Here are some of today’s rates:
- 30-Year Fixed: 3.50% (3.723% APR)
- 15-Year Fixed: 2.75% (3.22% APR)
- 7-Year ARM: 2.625% (3.209% 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.
CNNMoney.com
Stocks Slip as Investors Await Earnings
The New York Times
Partisan Bias and Economic Forecasts
Reuters
Wall Street Flat as Caution Prevails Before Earnings
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