Mortgage Rates Slip by Scott Davis
Stocks staged an impressive comeback on Monday after last Friday's meltdown, while Treasury bond prices reversed just as strongly to the downside. According to Bank Rate Monitor, the 30-year and 15-year fixed rate mortgage averages fell to 7.86% and 7.54% respectively. The one-year adjustable rate ticked up to 6.68%, while the 30-year jumbo dropped to 8.21%. Treasury bond prices tanked on Monday in a reversal of Friday's flight-to-quality rally as stocks rebounded. The yield on the benchmark 10-year Treasury note jumped 18 basis points (0.18%) to 6.03%, while the 30-year Treasury yield climbed 15 basis points to 5.93% A late rally propelled stock market averages to hefty gains on Monday. The Nasdaq composite leaped a record 217.87 points following Friday's record 355.51 point decline. The Dow Jones Industrial Average staged a smaller recovery, gaining 276.74 points back from Friday's 617 point debacle. Selected Stocks - Closing Prices Monday, April 17 | Company | Ticker | Price | Change | HomeStore.com
| HOMS
| 20 7/16
| - 1/16
| HomeSeekers.com
| HMSK
| 5 5/8 | unch.
| Cendant
| CD
| 15 13/16
| - 1/16
| Homeservices.com
| HMSV
| 8 1/2
| + 11=/8
| Realco, Inc.
| RLCO
| 2 5/8
| - 1/4
| Kennedy-Wilson
| KWIC
| 4 3/4
| - 1/8
| E-Loan
| EELN
| 3 1/4
| - 1 1/8
| LendingTree
| TREE
| 5 1/4
| - 1 5/8
| Countrywide
| CCR
| 27 7/8
| - 1/4
| Vista Info
| VINF
| 2 9/16
| - 7/16
| Internet Pictures Corp.
| IPIX
| 17 1/16
| - 2
| Champion Enterprises
| CHB
| 6 1/16
| - 1/16
| Centex Corp.
| CTX
| 23 9/16
| + 1/4
| Pulte Corp.
| PHM
| 21 3/4
| + 3/8
|
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