Treasury bond yields rose slightly and stocks fell amid turmoil in foreign markets. Russia decided to allow the ruble to fall, which it did, losing 10% of its value vs. the US dollar.
The 30 year and 15 year fixed rate mortgage averages stayed put at 6.80% and 6.50% respectively. The one year adjustable rate average edged up to 5.61%.
The benchmark 30 year Treasury bond yield closed up one basis point on Wednesday, rising to 5.44%.
Stocks were down Wednesday, with the Dow Jones Industrial Average losing 79 points.
Published: August 27, 1998
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