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ECONOMY

Reaching another milestone, the Standard & Poor's 500 index closes above 2,000 points

It was a big round-number day for the stock market.

The Standard & Poor's 500 index closed above 2,000 points Tuesday for the first time, but just barely. It edged up 2.10 points to 2,000.02 points.

It's been 16 years since the index closed above 1,000 points for the first time.

Stocks moved higher after some encouraging news, including a surge in consumer confidence.

The Dow Jones industrial average rose 29 points, or 0.2 percent, to 17,106. The Dow is 32 points shy of its own record closing high set July 16.

The Nasdaq rose 13 points, or 0.3 percent, to 4,570. The Nasdaq is still well below its dot-com era record.

Bond prices were flat. The yield on the 10-year Treasury note held at 2.40 percent.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.87% up 3.78%  
15 Y Fixed Graph 3.01% up 2.98%  
30 Y Fixed Jumbo Graph 4.07% up 3.98%  
5/1 ARM Graph 3.09% up 3.06%  
5/1 Jumbo ARM Graph 3.60% up 3.55%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.61% up 4.60%  
$50K HELOC Graph 4.09% up 4.08%  
$30K Loan Graph 5.02% up 4.88%  
$50K Loan Graph 4.54% up 4.33%  
$75K Loan Graph 4.54% up 4.33%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.65% dw 2.67%  
36 M Used Graph 3.12% dw 3.13%  
48 M New Graph 2.91% dw 2.92%  
48 M Used Graph 2.76% up 2.75%  
60 M New Graph 3.05% dw 3.06%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.36% -- 0.36%  
1 yr Graph 0.61% dw 0.65%  
5 yr Graph 1.45% up 1.43%