Mortgage Rates Drop by Scott Davis
Helped by falling bond yields and a cooling economy, mortgage rates continue their descent. According to Bank Rate Monitor, the 30-year and 15-year fixed rate mortgage averages dropped to 7.87% and 7.62% respectively on Monday. The one-year adjustable rate fell to 7.21% while the 30-year jumbo slipped to 8.21%. Bond yields ticked up on Monday after two weeks of declines. The yield on the benchmark 10-year Treasury notes edged up to 6.00%, while the 30-year Treasury bond yield stood at 5.88%. Stocks rallied late, with the Dow Jones Industrial Average gaining 108.54 points to 10,557.84 and the Nasdaq jumping 129.27 points to 3,989.83. Selected Stocks - Closing Prices Monday, June 19 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 29 1/2
| - 1/2
| HomeSeekers.com
| HMSK
| 3 13/16 | + 1/8
| Cendant
| CD
| 13 3/8
| - 1/8
| Homeservices.com
| HMSV
| 11 5/8
| + 1/4
| Realco, Inc.
| RLCO
| 1 7/8
| unch.
| Kennedy-Wilson
| KWIC
| 5 1/4
| - 1/8
| E-Loan
| EELN
| 4 /2
| - 27/64
| LendingTree
| TREE
| 7 1/4
| + 1/4
| Countrywide
| CCR
| 32 7/8
| + 9/256
| Vista Info
| VINF
| 2 7/16
| - 3/16
| Internet Pictures Corp.
| IPIX
| 15 13/16
| - 1
| Champion Enterprises
| CHB
| 5 3/8
| - 1/8
| Centex Corp.
| CTX
| 23 1/8
| - 1/16
| Pulte Corp.
| PHM
| 22 1/8
| - 7/16
|
|
