Daily Market Update 12/2/08

Mortgage rates inched higher Tuesday in early trading, but remained close to their lows for the year. Stocks prices recovered somewhat from Monday’s sharp sell off. 10-year Treasury yields dropped to 2.69%, the lowest level since 1955. Yesterday Treasury Secretary Paulson said that even though the government has “essentially guaranteed” Fannie Mae and Freddie Mac securities, mortgage rates have not come down “as much as we may have hoped”. No economic data will be released today.

Leave a Reply

Your email address will not be published.

Back to top