Realty Times April 18, 2000

Mortgage Rates Slip
by Scott Davis

Stocks staged an impressive comeback on Monday after last Friday's meltdown, while Treasury bond prices reversed just as strongly to the downside.

According to Bank Rate Monitor, the 30-year and 15-year fixed rate mortgage averages fell to 7.86% and 7.54% respectively. The one-year adjustable rate ticked up to 6.68%, while the 30-year jumbo dropped to 8.21%.

Treasury bond prices tanked on Monday in a reversal of Friday's flight-to-quality rally as stocks rebounded. The yield on the benchmark 10-year Treasury note jumped 18 basis points (0.18%) to 6.03%, while the 30-year Treasury yield climbed 15 basis points to 5.93%

A late rally propelled stock market averages to hefty gains on Monday. The Nasdaq composite leaped a record 217.87 points following Friday's record 355.51 point decline. The Dow Jones Industrial Average staged a smaller recovery, gaining 276.74 points back from Friday's 617 point debacle.

Selected Stocks - Closing Prices Monday, April 17

Company Ticker Price Change
HomeStore.com
 		HOMS
 		20 7/16
 		- 1/16
HomeSeekers.com
 		HMSK
 		5 5/8 unch.
Cendant
 		CD
 		15 13/16
 		- 1/16
Homeservices.com
 		HMSV
 		8 1/2
 		+ 11=/8
Realco, Inc.
 		RLCO
 		2 5/8
 		- 1/4
Kennedy-Wilson
 		KWIC
 		4 3/4
 		- 1/8
E-Loan
 		EELN
 		3 1/4
 		- 1 1/8
LendingTree
 		TREE
 		5 1/4
 		- 1 5/8
Countrywide
 		CCR
 		27 7/8
 		- 1/4
Vista Info
 		VINF
 		2 9/16
 		- 7/16
Internet Pictures Corp.
 		IPIX
 		17 1/16
 		- 2
Champion Enterprises
 		CHB
 		6 1/16
 		- 1/16
Centex Corp.
 		CTX
 		23 9/16
 		+ 1/4
Pulte Corp.
 		PHM
 		21 3/4
 		+ 3/8

For more interest rate news, check out the Realty Times Interest Rate Watch


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