Stocks edged down on Monday and the dollar fell as the U.S. economic outlook remained mired in gloom and a surprise loss at Wachovia Corp, America's fourth-largest bank, stoked fears that the global credit crisis is not over.
Wachovia reported an upsurge in credit problems stemming from mortgages and other debt, triggering a fresh wave of fixed-income buying among investors already rattled by General Electric Co's disappointing results on Friday.
While non-financial corporations are still in the best position they've been in for years to ride out a storm, the question is, is it a storm or a hurricane that we're in for?
Product Rate APR
3/1ARM *5.125% *5.203%
5/1 ARM *5.125% *5.203%
30 Yr. Fix. *5.750% *5.828%
*Rate is based on 20% down payment
*APR is based on $250,000 loan amount