Solutions for your Future...    

APPLY NOW!       1-877-663-7555

  Home    Loan Center    Products    About Us    Resources    Apply Now!  
Market News
U.S. stocks fell after 10-year treasury bond yields rose for the first time in almost a week, reviving concern higher borrowing costs will curb growth.
A surge in bond yields to a five-year peak sent stock indexes down from records earlier this month. The yield on the 10-year note, which influences rates on mortgages and corporate loans, advanced to 5.12 percent on Wednesday after losing 0.14 percentage point over the previous five days.
The jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a crimp on borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified buyers. The national median home price is poised for its first decline and the supply of unsold homes is at a record 4.2 million, the National Association of Realtors reported.