Mortgage Rates Level Off by Scott Davis
Treasury bond prices took another tumble on Monday while stocks set records. According to Bank Rate Monitor's daily survey of lending institutions, the average 30-year fixed rate mortgage remained at 7.95%. The 15-year fixed rate declined to 7.55% while the one-year adjustable rate rose to 6.55%. The drop in Treasury bond prices sent the yield, which moves opposite to the price, up to 6.59%. Buyers are cautious ahead of the scheduled release later this week of both the Producer and Consumer Price Indices for December. News of the blockbuster $156 billion acquisition of Time Warner by AOL sent the stock market to record highs on Monday. The Dow Jones Industrial Average closed up 49.64 at a record 11,572.20. The Nasdaq composite jumped 167.05 points to 4,049.67. Selected Stocks - Closing Prices Monday, January 10 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 71
| + 3 15/16
| HomeSeekers.com
| HMSK
| 14 11/16
| unch.
| Cendant
| CD
| 22
| - 1 15/16
| Homeservices.com
| HMSV
| 12 13/16
| + 1/16
| Kennedy-Wilson
| KWIC
| 7 15/16
| unch.
| E-Loan
| EELN
| 15 1/8
| - 11/16
| Countrywide
| CCR
| 26 1/16
| + 1/4
| Vista Info
| VINF
| 4 7/8
| + 13/32
| Bamboo.com
| BAMB
| 21
| + 1
| Champion Enterprises
| CHB
| 8 3/16
| unch.
| Centex Corp.
| CTX
| 22 13/16
| - 7/16
| Pulte Corp.
| PHM
| 19 9/16
| - 3/8
|
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