Treasury bond yields were up slightly Monday as the N.A.R. announcement of existing home sales for June had little effect on credit markets. Sales of previously owned homes dropped 2.3%, which was slightly below expectations but still at a healthy rate.
The 30 and 15 year fixed rate mortgage averages remained at 6.83% and 6.53% respectively. The 1 year ARM rate stayed at 5.61%.
The benchmark 30 year Treasury bond yield was up to 5.71%.
Stocks rebounded from last week's rout, with the Dow Jones Industrial Average closing up over 90 points.
Published: July 28, 1998
Use of this article without permission is a violation of federal copyright laws.
