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Current Mortgage Rates Today – Loan rates lower at JPMorgan Chase and U.S. Bank

chart conventional rates

(Best Syndication News) Mortgage interest rates fell despite a mixed-bag of secondary lending trends (see the mortgage rate charts below). JPMorgan Chase, SunTrust, Bank of America, and U.S. Bank all lowered their rates despite a shift back into equities.

Benchmarks

Investor confidence improved as President Barack Obama and congressional leaders met on Friday to discuss a solution to the fiscal cliff. All four Senate and House leaders spoke to reporters following the meeting.

Hostess Brands closing down Operations

Calculator - BSN

(Best Syndication News) - Hostess Brands Inc. announced that they would be seeking approval from the U.S. Bankruptcy Court to close their business and liquidate their assets. The liquidation would involve selling off their iconic brands and facilities. The company announced that the bakery operations at the various plants will stop. However, the company will continue to operate Hostess Brand retail stores for several days after November 16, 2012 to sell products that have already been baked.

Only four days earlier, on November 12, Hostess Brands closed three plants because of a nationwide strike initiated by the Bakery, Confectionery, Tobacco Workers, and Grain Millers International Union (BCTGM). The company warned workers that if they did not return to normal production by 5 p.m. EST on November 15, that they would be forced to liquidate their business. On the night of November 15, the company decided that not enough of their employees returned to work.

Current Mortgage Rates Today – Rates mixed as housing market improves

5/1ARM Rates

(Best Syndication News) Mortgage interest rates edged higher today as the benchmarks began to move in the opposite direction (see the mortgage rate charts below). PNC and SunTrust raised their rates while KeyBank lowered them.

Benchmarks

A settlement announced by BP plc (ADR) (NYSE:BP) and the government didn’t help investor confidence; neither did reports that Europe is in a recession and the United States faces forced-austerity on January 1st if lawmakers are unable to reach an agreement on taxes and spending. The oil company still faces several other charges and fines before the Gulf oil spill is resolved.

Office Depot opens New Concept Stores in Denver

Office Depot Logo - credit: Office Depot

(Best Syndication News) - Office Depot (NYSE: ODP) has opened four new stores in Denver, Colorado that will change the shopping experience from what one would come to expect at the office supply store. Two stores are already open and two more will open in December.

The new stores are laid-out differently than before. Office Depot used customer input to redesign their store experience and layout. The new stores will have PC bars that allow people to come and hook up their computer. They will offer free self-serve coffee during certain times of the day (8 a.m. – 10 a.m., and 3 p.m. – 5 p.m. on weekdays.) If you do not have a computer, you can rent time on one of their computers.

Current Mortgage Rates Today – Wells Fargo and U.S. Bank among lenders raising rates

Graphic 15-Year FRM

(Best Syndication News) Mortgage interest rates ascended today despite a sharp downturn in equity prices (see the mortgage rate charts below). JPMorgan Chase, SunTrust, KeyBank, Wells Fargo, and U.S. Bank raised their rates unexpectedly.

Benchmarks

When President Barack Obama reiterated his position Wednesday on tax-cuts for the middle-class but not the wealthy, it reminded investors of the vast gulf between the two political parties. Entrenched lawmakers are preparing for a meeting later this week to hash-out their differences, but the uncertainty drove the Dow Jones Industrial Average (DJIA) index down more than 185 points.

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