Mortgage rate averages were unchanged on Tuesday as stocks continued to rally. Treasury bond yields eased up from record lows.
The 30 and 15 year fixed rate mortgage averages remained at 6.81% and 6.51% respectively. The 1 year ARM average remained at 5.62%.
The Treasury bond marked was largely unaffected by the July Consumer Price Index coming in at an expected 0.2% increase. The benchmark 30 year Treasury bond yield rose slightly to 5.55%. July housing starts and building permits are scheduled to be released today.
On Tuesday, the Dow Jones Industrial Average jumped nearly 140 points, its second consecutive gain of well over 100 points.
Published: August 19, 1998
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