Mortgage rates have stayed in a fairly narrow band the past few days as extreme volatility in the stock and bond markets have not carried over to mortgages.
According to Bank Rate Monitor's daily survey of lending institutions, the average 30-year fixed rate mortgage edged down to 7.87% on Monday. The 15-year fixed rate ticked up to 7.58% while the one-year adjustable rate dropped to 6.68%. The 30-year jumbo rate stayed at 8.22%.
Treasury bond yields rose on Monday after stocks rebounded somewhat from an early sell-off. The yield on the benchmark 10-year Treasury note rose to 6.02%, while the 30-year bond climbed to 5.86%.
Diverging trends in blue chip and technology stocks reappeared on Monday as a late afternoon recovery left the Nasdaq composite down 161.40 points at 3,482.48. The Dow Jones Industrial Average managed a 62.05 point gain to 10.906.10.
Selected Stocks - Closing Prices Monday, April 24
| Company |
Ticker |
Price |
Change |
HomeStore.com
|
HOMS
|
21 3/4
|
- 2 7/8
|
HomeSeekers.com
|
HMSK
|
6 7/8
|
- 5/32
|
Cendant
|
CD
|
15
|
- 1/4
|
Homeservices.com
|
HMSV
|
9 3/4
|
- 1/4
|
Realco, Inc.
|
RLCO
|
2 7/16
|
unch.
|
Kennedy-Wilson
|
KWIC
|
4 13/16
|
- 3/16
|
E-Loan
|
EELN
|
4 1/16
|
- 3/8
|
LendingTree
|
TREE
|
4 3/4
|
unch.
|
Countrywide
|
CCR
|
27 13/16
|
- 3/16
|
Vista Info
|
VINF
|
2 31/32
|
- 13/32
|
Internet Pictures Corp.
|
IPIX
|
18
|
- 1/16
|
Champion Enterprises
|
CHB
|
6 1/2
|
+ 5/8
|
Centex Corp.
|
CTX
|
24 13/16
|
+ 3/16
|
Pulte Corp.
|
PHM
|
21 13/16
|
- 1/4
|
For more interest rate news, check out the Realty Times Interest Rate Watch
Published: April 25, 2000
Use of this article without permission is a violation of federal copyright laws.
