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StreetInsider.com Insiders' Edge Newsletter 06-11-09

 
 StreetInsider.com - Insiders' Edge

Mortgage Refinancing Will Likely Continue To Slow

 

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The most common mortgage product is the 30-year fixed loan, which has the rate based off the 10-Year Treasury. Sadly, for homeowners looking to refinance their current home loan or new buyers, the yield on the 10-year treasury has risen to 4% this morning, which is the first time since October, according to Bloomberg.

Essentially, the rise in the 10-year yield means that you the homeowner and the potential home buyer will be paying a higher rate of interest on your home loan.

According to Bankrate.com's weekly national survey, this week the average 30-year fixed mortgage rate rose to 5.95%, which is up from 5.65% last week and up over a full percentage point from the recent lows.

The average 15-year fixed rate mortgage jumped to 5.37% from 5.06% a a week ago.

CONTINUE READING>>>>

StreetInsider.com's News You Should Know:

1. Stock Investors Breathe Sigh of Relief After Solid Long Bond Auction

Stock investors are breathing a sigh of relief today after an $11 billion 30-year auction showed solid demand for long-term U.S. debt.CONTINUE READING>>>>

2. WHO Raises Swine Flu Alert Level To 6

The World Health Organization, or WHO, has officially raised the pandemic level to 6, its highest level, as the H1N1 virus has now spread to 74 countries. This marks the first global flu epidemic in 41 years.CONTINUE READING>>>>

3. Wall Street Cheers Palm's (PALM) New CEO

Shares of Palm, Inc. (Nasdaq: PALM ) are reacting positively to news after the close that Jon Rubinstein would takeover as Chairman and CEO upon the departure of Ed Colligan, who is stepping down after sixteen years. The stock is up 8% to $13 per share today. CONTINUE READING>>>>

4. 10 Stocks Taking Care of Investors: No. 7 Oracle (ORCL)

These 10 stocks have been rewarding investors with share buybacks, strong dividends, sales/earnings and stock performance and are worthy cornerstones of any portfolio. You can track the entire series here. Number 7: Oracle (Nasdaq: ORCL )CONTINUE READING>>>>

5. Dell (DELL) Looks To Buy Rather Than Build For Growth

This morning the Wall Street Journal had a story that said Dell Inc. (Nasdaq: DELL ) is looking to rev up its mergers and acquisitions engine. Dell's CEO Michael Dell expects his company to acquire a "significant-sized company" in coming months, according to the Journal. CONTINUE READING>>>>

6. Trading Radar for 6/12: Duckwall ALCO (DUCK) Reports; Import/Export Prices, UofM Sentiment Index Due

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session : CONTINUE READING>>>>

7. Retails Sales Rise In May

Today's retail sales numbers gave investors something to hang their hat, rising for the first time in three months.  CONTINUE READING>>>>

8. Paul Volcker Comments on US Growth, Inflation Prospects

Paul Volcker, who was recently appointed Chairman of the Economic Recovery Advisory Board by President Obama, is making some headlines today following comments he made at a meeting of the Institute of International Finance in Beijing:CONTINUE READING>>>>

Check www.streetinsider.com daily for the latest Wall Street news.


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Rating To Watch - NPS Pharma (NPSP)

Brean Murray initiates coverage on NPS Pharmaceuticals (Nasdaq: NPSP) with a Buy. Price target $11.

Brean analyst says, "With the current market value of the company below the value of the royalties from Sensipar and Regpara, we believe that NPSP's stock is significantly undervalued and is well poised to generate significant upside, driven by potential positive data for two pivotal Phase III trials, Gattex in short bowel syndrome and NPSP558 in hypoparathyroidism in 2H10."
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