Mortgage Rates Fall by Scott Davis
Rates continued down on Thursday while stocks ended mixed in volatile trading. According to Bank Rate Monitor's national daily survey of lending institutions, the average 30-year and 15-year fixed rate mortgages fell to 8.07% and 7.67% respectively. The one-year adjustable rate dropped to 6.65%, while the jumbo 30-year rate stayed at 8.38%. The yield on the benchmark 30-year Treasury bond ended the day basically unchanged at 6.13%. After dipping below the 10,000 mark during the day, the Dow Jones Industrial Average recovered to close at 10,092.63, off 133.10. The Nasdaq composite continued on its merry way, climbing 67.24 points to a record 4,617.65. |
