Daily Financial News - Mortgage | Real Estate | Stock Market

Stocks End Choppy Day Lower - CNNMoney.com -- Stocks ended a volatile session with modest losses Tuesday, as the Fed's improved outlook and some signs of improvement in housing tempered a weaker revision on economic growth released in the morning.

The Dow Jones industrial average lost 17 points, or 0.2%. The Dow ended the previous session at its highest level since Oct. 2, 2008.

The Nasdaq composite lost 7 points, or 0.3%, while the S&P 500 was barely changed.
Stocks slipped Tuesday morning after a report showed third-quarter GDP grew at a slower pace than initially reported.

S&P/Case Shiller: Home Prices Improving at Slower Pace - U.S. home prices, as measured by the 20 city index rose by 0.3% on a month over month basis, less than the anticipated 0.8% gain. The 10-city index rose 0.4% from August. According to S&P/Case Shiller data, home prices have risen for five straight months.

Mortgage Rates Move Lower - Rates moved higher in the opening hours of the session, however as losses were recovered later in the day, several lenders reissued rate sheets, passing along better pricing, by day's end.

Reports from fellow mortgage professionals indicate rate sheets to be marginally improved this morning. The par 30 year conventional rate mortgage has fallen to the 4.50% to 4.75% range for well qualified consumers.

If you are seeking a 15 year fixed rate, you should expect a par interest rate in the 4.125% to 4.375% range.