Mortgage Rates At Five Month High by Scott Davis
Fed jitters kept bond yields rising on Wednesday while stock prices were mixed. According to Bank Rate Monitor, the average 30-year fixed rate mortgage jumped to 7.99%, the highest it has been since briefly touching 8% on August 12. The 15-year fixed rate climbed to 7.60% while the one-year adjustable rate was unchanged at 6.53%. The yield on the bellwether 30-year Treasury bond rose to 6.71%. An oversupply of new corporate issues and concerns about possible upcoming Fed rate hikes kept the upward pressure on yields. Blue chips managed to gain ground Wednesday with the Dow Jones Industrial Average rising 40.02 points to 11,551.10. Profit taking in technology stocks and a reassessment of the AOL-Time Warner deal sent the Nasdaq composite lower by 71.17 points. Homestore.com's announcement of a secondary stock offering sent its shares down over 7 points. Selected Stocks - Closing Prices Wednesday, January 12 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 83
| - 7 13/16
| HomeSeekers.com
| HMSK
| 16 13/8
| + 11/16
| Cendant
| CD
| 23
| + 1 1/16
| Homeservices.com
| HMSV
| 13 1/8
| + 5/16
| Realco, Inc.
| RLCO
| 2 1/4
| + 1/4
| Kennedy-Wilson
| KWIC
| 7 3/4
| - 3/16
| E-Loan
| EELN
| 16
| + 1 1/4
| Countrywide
| CCR
| 25 13/16
| - 1/16
| Vista Info
| VINF
| 5 5/16
| - 1/8
| Bamboo.com
| BAMB
| 21 1/4
| - 1 3/16
| Champion Enterprises
| CHB
| 8 1/8
| - 1/8
| Centex Corp.
| CTX
| 22 7/16
| + 5/16
| Pulte Corp.
| PHM
| 18 1/8
| - 5/8
|
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