Mortgage rates were mixed on Thursday, while bond yields fell.
The average 30 year fixed rate mortgage and 1 year ARM rates dropped to 6.84% and 5.61% respectively. The 15 year fixed rate average was up to 6.54%.
US Treasury bond prices were up on Thursday, dropping the yield on the benchmark 30 year issue to 5.65%, a decline of 3 basis points from Wednesday.
Stocks plummeted, with the Dow dropping over 195 points. The decline was broad based, with virtually all major averages posting significant losses.
Published: July 24, 1998
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