Mortgage rates fell through the end of last week as the stock market faltered and bonds flourished.
According to Bank Rate Monitor, the 30-year fixed rate mortgage average dropped to 8.30% on Friday. The 15-year fixed and 30-year jumbo rates fell to 8.01% and 8.61% respectively. The one-year adjustable rate ticked up to 7.12%.
Treasury bonds reacted positively on Friday to declining stocks and signs the economy may be slowing. The yield on benchmark 10-year note fell to 6.33% while the 30-year bond yield declined to 6.06%.
Stocks rallied late on Friday but still ended in negative territory as the Dow Jones Industrial Average lost 24.68 points to 10,299.24 and the Nasdaq composite inched down 0.24 points to 3,205.11.
Financial markets were closed Monday in observance of Memorial Day.
Selected Stocks - Closing Prices Friday, May 26
| Company |
Ticker |
Price |
Change |
HomeStore.com
|
HOMS
|
21 7/8
|
- 1/8
|
HomeSeekers.com
|
HMSK
|
2 3/8
|
- 11/32
|
Cendant
|
CD
|
13 1/16
|
- 1/2
|
Homeservices.com
|
HMSV
|
9 3/8
|
unch.
|
Realco, Inc.
|
RLCO
|
2 7/16
|
+ 5/16
|
Kennedy-Wilson
|
KWIC
|
5
|
+ 1/8
|
E-Loan
|
EELN
|
3 15/16
|
unch.
|
LendingTree
|
TREE
|
5
|
- 1/8
|
Countrywide
|
CCR
|
31 3/16
|
unch.
|
Vista Info
|
VINF
|
2 3/8
|
+ 5/16
|
Internet Pictures Corp.
|
IPIX
|
9 1/2
|
- 9/16
|
Champion Enterprises
|
CHB
|
5 11/16
|
- 1/8
|
Centex Corp.
|
CTX
|
21 3/8
|
- 13/16
|
Pulte Corp.
|
PHM
|
22
|
+ 7/16
|
For more interest rate news, check out the Realty Times Interest Rate Watch
Published: May 30, 2000
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