Mortgage Rates Flat by Scott Davis
The decision on Tuesday by the Fed to keep short term interest rates unchanged apparently prompted the financial markets to do the same with longer term rates. Treasury yields and mortgage rates were flat on Tuesday as stocks were little changed. According to Bank Rate Monitor's daily survey of lenders, the average 30-year and 15-year fixed rate mortgages stayed at 7.70% and 7.49% respectively. The one-year adjustable rate ticked up to 7.24% while the 30-year jumbo stood at 8.12%. Traders in Treasury bonds were unimpressed by the expected Fed inaction coming to pass, and left both the 10-year and 30-year Treasury yields unchanged ad 5.78% and 5.71% respectively. Stock prices retreated after an initial rally, but most averages managed to remain just in positive territory. The Dow Jones Industrial Average closed up 59.34 points to 11,139.15, while the Nasdaq composite gained just 5.06 points to 3,958.21. Selected Stocks - Closing Prices Tuesday, August 22 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 40 15/16
| + 2
| HomeSeekers.com
| HMSK
| 3 13/32 | + 7/32
| Cendant
| CD
| 12 13/16
| - 3/16
| Homeservices.com
| HMSV
| 11 3/8
| + 1/16
| Realco, Inc.
| RLCO
| 2
| unch.
| Kennedy-Wilson
| KWIC
| 6 3/8
| - 3/16
| E-Loan
| EELN
| 3 11/16
| - 3/32
| LendingTree
| TREE
| 5 5/8
| - 13/16
| Countrywide
| CCR
| 37 7/16
| + 11/16
| Vista Info
| VINF
| 1 29/32
| - 3/32
| Internet Pictures Corp.
| IPIX
| 8 1/2
| + 1/2
| Champion Enterprises
| CHB
| 5 11/16
| unch.
| Centex Corp.
| CTX
| 27 9/16
| - 9/16
| Pulte Corp.
| PHM
| 29 3/4
| + 1/8
|
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