Mortgage rates finally took a break from a solid month of daily increases and actually fell a little this week.
According to Bank Rate Monitor's daily survey of lending institutions, the average 30-year and 15-year fixed mortgage rates dropped to 8.34% and 8.03% respectively on Thursday. The one-year adjustable rate edged up to 6.11% while the 30-year jumbo fell to 8.64%.
A late stock market sell-off fed a rally in Treasury bond prices on Thursday, sending the yield on the benchmark 10-year note down to 6.40%, a drop of 7 basis points (0.07%) from Wednesday. The 30-year Treasury bond yield dipped to 6.11%.
The late afternoon decline in stocks left the Dow Jones Industrial Average off 211.43 points to 10,323.93, while the Nasdaq composite dropped 65.26 points to 3,205.35.
Selected Stocks - Closing Prices Thursday, May 25
| Company |
Ticker |
Price |
Change |
HomeStore.com
|
HOMS
|
22
|
- 2 1/16
|
HomeSeekers.com
|
HMSK
|
2 23/32
|
- 3/32
|
Cendant
|
CD
|
13 9/16
|
+ 1/16
|
Homeservices.com
|
HMSV
|
9 3/8
|
- 1/16
|
Realco, Inc.
|
RLCO
|
2 1/8
|
- 1/4
|
Kennedy-Wilson
|
KWIC
|
4 7/8
|
+ 1/8
|
E-Loan
|
EELN
|
3 15/16
|
- 1/16
|
LendingTree
|
TREE
|
5 1/8
|
+ 3/16
|
Countrywide
|
CCR
|
31 3/16
|
- 9/16
|
Vista Info
|
VINF
|
2 1/16
|
+ 1/16
|
Internet Pictures Corp.
|
IPIX
|
10 1/16
|
- 1
|
Champion Enterprises
|
CHB
|
5 13/16
|
+ 1/16
|
Centex Corp.
|
CTX
|
22 3/16
|
- 1/16
|
Pulte Corp.
|
PHM
|
21 9/16
|
- 1/8
|
For more interest rate news, check out the Realty Times Interest Rate Watch
Published: May 26, 2000
Use of this article without permission is a violation of federal copyright laws.
