Mortgage Rates Hit Eight Month Low
According to Bank Rate Monitor's daily national survey of mortgage lenders, the average 30-year fixed rate mortgage fell to 7.72% on Thursday, its lowest level this year. The 15-year fixed rate and one year adjustable rate were down to 7.49% and 7.22% respectively. The 30-year jumbo rate dropped to 8.13%. Bond prices rallied Thursday, sending the yield on the benchmark 10-year Treasury note to a 4 month low of 5.76%. The 30-year Treasury yield slipped to 5.71% Recent economic data, although mixed, appears to have convinced the markets that the Fed will not raise rates at their scheduled August 22 meeting. Stocks were mixed on Thursday, with the Dow Jones Industrial Average eking out a 2.93 point gain to 10,908.76 while the Nasdaq composite suffered a 93.51 point loss to 3,759.99 as technology stocks were hardest hit, Selected Stocks - Closing Prices Thursday, August 10 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 34 15/16
| + 9/16
| HomeSeekers.com
| HMSK
| 2 1/16 | + 1/16
| Cendant
| CD
| 12 11/16
| - 9/16
| Homeservices.com
| HMSV
| 11 1/2
| unch.
| Realco, Inc.
| RLCO
| 1 3/4
| unch.
| Kennedy-Wilson
| KWIC
| 6 1/8
| + 1/4
| E-Loan
| EELN
| 3 7/16
| - 1/32
| LendingTree
| TREE
| 6 7/8
| - 1/8
| Countrywide
| CCR
| 38
| - 3/8
| Vista Info
| VINF
| 2 1/16
| - 1/16
| Internet Pictures Corp.
| IPIX
| 8 7/8
| - 5/16
| Champion Enterprises
| CHB
| 6
| + 9/16
| Centex Corp.
| CTX
| 28
| - 1/4
| Pulte Corp.
| PHM
| 27 13/16
| - 11/8
|
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