Since the aftermath of the presidential election U.S. mortgage rates have risen. Now potential homeowners face higher monthly payments amid a stagnant economy with slow wage growth. Homebuyers can still snag the absolute lowest rates, especially if they don't plan on staying in their first home for more seven years and are leaning toward the 7/1 adjustable rate mortgages known as ARMs.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.