Mortgage Rates Edge Up, Approach 8% by Scott Davis
Stocks and bonds were pounded by investors on Tuesday. According to the daily Bank Rate Monitor survey of lenders, the average 30-year fixed rate mortgage climbed to 7.95%. The 15-year fixed rate rose to 7.57%, while the one-year adjustable rate dipped to 6.53%. The possibility of a 50 basis point interest rate hike by the Fed in February sent bond prices down on Tuesday. The yield on the benchmark 30-year Treasury bond jumped to a 2-1/2 year high of 6.69%. Stocks didn't do much better. The Nasdaq composite sank 128.48 points to 3,921.19, while the Dow Jones Industrial Average fell a more modest 61.12 points to 11,511.08. Homestore.com (Nasdaq:HOMS) was a bright spot, jumping almost 20 points apparently in reaction to the start of a new television ad campaign by the company. Selected Stocks - Closing Prices Tuesday, January 11 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 90 13/16
| + 19 13/16
| HomeSeekers.com
| HMSK
| 16 1/8
| + 1 7/16
| Cendant
| CD
| 21 5/16
| - 11/16
| Homeservices.com
| HMSV
| 12 13/16
| unch.
| Kennedy-Wilson
| KWIC
| 7 15/16
| unch.
| E-Loan
| EELN
| 14 3/4
| - 3/8
| Countrywide
| CCR
| 25 7/8
| - 3/16
| Vista Info
| VINF
| 5 7/16
| + 9/16
| Bamboo.com
| BAMB
| 22 7/16
| + 1 7/16
| Champion Enterprises
| CHB
| 8 1/4
| + 1/16
| Centex Corp.
| CTX
| 22 1/8
| - 11/16
| Pulte Corp.
| PHM
| 18 3/4
| - 13/16
|
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