Dow FALLS 512 Points Today. Mortgage rates Dive Low.

MARKET WRAP: WOW! What a day in the markets today as Stocks plunged on fears of another recession due to weak economic data and as sellers said, “Get Me Out!” The Dow Jones Industrial Average fell 512.76 to end the session at 11383.68 down 10.5% from just July 21 and sending the Nasdaq, S&P 500Continue reading “Dow FALLS 512 Points Today. Mortgage rates Dive Low.”

Maine Mortgage Market Update 12.09.2010

After record low interest rates for 7 months, mortgage rates are rising quickly. Mortgage rates rose for the fourth straight week this week, hitting 4.61 percent. Could this surge slow refinancings and further hamper the housing market? Absolutely. Today, Freddie Mac says the average rate on a 30-year fixed loan increased sharply from last week’s rate.Continue reading “Maine Mortgage Market Update 12.09.2010”

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