Mortgage Rates Jump To Over 8% by Scott Davis
Treasury bond prices continued down on Tuesday while stocks were mixed. According to Bank Rate Monitor, the average 30-year fixed rate mortgage jumped to 8.03%. The 15-year fixed rate climbed to 7.62%, while the one-year adjustable rate fell to 6.54%. The continuing decline in bond prices sent the yield on the benchmark 30-year Treasury to a 2 1/2 year high of 6.75%. December housing starts and building permits are scheduled to be released today, with the figures expected to come in at annual rates of 1.61 million and 1.56 million respectively. Blue chip stocks closed lower, with the Dow Jones Industrial Average losing 162.26 points to 11,560.72. The Nasdaq composite gained 66.54 points to 4.130.81. Fourth quarter earnings reports are expected to bolster the market. Selected Stocks - Closing Prices Tuesday, January 18 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 81 1/2
| - 6 5/8
| HomeSeekers.com
| HMSK
| 18 3/8
| + 1 1/2
| Cendant
| CD
| 22 1/2
| - 13/16
| Homeservices.com
| HMSV
| 13 13/16
| + 1/2
| Realco, Inc.
| RLCO
| 2 1/4
| unch.
| Kennedy-Wilson
| KWIC
| 7 7/8
| unch.
| E-Loan
| EELN
| 15 1/4
| - 3/8
| Countrywide
| CCR
| 26 1/8
| - 1 5/16
| Vista Info
| VINF
| 4 15/16
| - 1/16
| Bamboo.com
| BAMB
| 23 7/8
| + 5/8
| Champion Enterprises
| CHB
| 8 1/8
| - 1/16
| Centex Corp.
| CTX
| 23 13/16
| + 7/16
| Pulte Corp.
| PHM
| 18 11/16
| - 3/16
|
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