Stock Market Today

Mortgage Rates Fall Again as Spooked Investors Flee Stock Market

Graph of 10-year Notes

(Best Syndication News) Mortgage rates continued to drop this week after a 30-day downward trend (see the mortgage rate charts below). The lower rates are a reflection of the shift in money from equities to the safe havens.

The average 30-year fixed rate mortgage rate fell one basis point on Friday and is down 10 basis points (bps) on the week. Although mortgage rates are dropping right now, the 100-day trend has been higher (see the mortgage rate chart below). The average VA and FHA loan rates are lower, as are the average adjustable rate mortgages (ARMS) and Jumbo loans.

Current Mortgage Rates Today – Chase Raises Interest Rates while SunTrust lowers them

30-year VA loan rate chart

(Best Syndication News) The secondary lending market was split today as mortgage interest rates advanced slightly (see the mortgage rate chart below). JPMorgan Chase raised their loan rates while SunTrust lowered them.

Benchmarks

Stock prices slipped Wednesday as nervous investors prepared for the Greek elections this weekend. The New Democracy Party is proposing continued cooperation with the European Union (EU) and the International Monetary Fund (IMF) to ensure future bailouts, while the Syriza Party is fighting austerity measures.

Current Mortgage Rates Today – Wells Fargo and U.S. Bank Lower Rates

Graph of 30-year FHA loan

(Best Syndication News) Nearly all U.S. banks lowered their mortgage interest rates today in response to changes in the secondary lending market (see mortgage rate charts below). U.S. Bank and Wells Fargo were among the banks making changes.

Benchmarks

Although stocks were in positive territory part of the day, the three major indexes sank by the end of Thursday’s session. May was the worst month for equities since 2010 as the S&P fell more than six percent.

Stock Market News – Markets Open Mixed in Asia

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(Best Syndication News) After six-straight days of declines in the United States, stock markets in Asia are opening mixed early Monday (see stock charts below). European sovereign debt worries continue to fester as markets drop more than three percent in one week.

The Hang Seng Index (Hong Kong) is down 60 points on Monday while the Shanghai composite index (China) and Nikkei 225 (Japan) are up 6.7 points (+0.29%) and 28 points (+0.34%) respectively.

Stock Market News – Financial Sector Leads Stocks Lower

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(Best Syndication News) Stocks are opening higher in Asia Monday despite a meltdown of the financial sector in the United States and looming uncertainty in Europe (see stock charts below).

The Shanghai Composite Index (China) added 2.46 points (+0.10%) early Monday, while the Nikkei 225 (Japan) and Hang Seng Index (Hong Kong) advanced 23 points (0.26%) and 1.71 points (0.01%) respectively. On Friday all three indexes were lower (see the world market chart below).

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