Realty Times May 30, 2000

Mortgage Rates Dip
by Scott Davis

Mortgage rates fell through the end of last week as the stock market faltered and bonds flourished.

According to Bank Rate Monitor, the 30-year fixed rate mortgage average dropped to 8.30% on Friday. The 15-year fixed and 30-year jumbo rates fell to 8.01% and 8.61% respectively. The one-year adjustable rate ticked up to 7.12%.

Treasury bonds reacted positively on Friday to declining stocks and signs the economy may be slowing. The yield on benchmark 10-year note fell to 6.33% while the 30-year bond yield declined to 6.06%.

Stocks rallied late on Friday but still ended in negative territory as the Dow Jones Industrial Average lost 24.68 points to 10,299.24 and the Nasdaq composite inched down 0.24 points to 3,205.11.

Financial markets were closed Monday in observance of Memorial Day.

Selected Stocks - Closing Prices Friday, May 26

Company Ticker Price Change
HomeStore.com
 		HOMS
 		21 7/8
 		- 1/8
HomeSeekers.com
 		HMSK
 		2 3/8 - 11/32
Cendant
 		CD
 		13 1/16
 		- 1/2
Homeservices.com
 		HMSV
 		9 3/8
 		unch.
Realco, Inc.
 		RLCO
 		2 7/16
 		+ 5/16
Kennedy-Wilson
 		KWIC
 		5
 		+ 1/8
E-Loan
 		EELN
 		3 15/16
 		unch.
LendingTree
 		TREE
 		5
 		- 1/8
Countrywide
 		CCR
 		31 3/16
 		unch.
Vista Info
 		VINF
 		2 3/8
 		+ 5/16
Internet Pictures Corp.
 		IPIX
 		9 1/2
 		- 9/16
Champion Enterprises
 		CHB
 		5 11/16
 		- 1/8
Centex Corp.
 		CTX
 		21 3/8
 		- 13/16
Pulte Corp.
 		PHM
 		22
 		+ 7/16

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


Copyright © 2000 Realty Times. All Rights Reserved.

With an award winning staff of writers providing up to the minute real estate news and advice, thousands of REALTORS® in North America reporting daily market conditions, and a nationally broadcast television news program, Realty Times is the one-stop shop for real estate information. That's why over 10,000 real estate professionals have turned to us for their publicity needs.