NEW YORK (CNNMoney.com) -- Treasury prices rose Tuesday as investors looked for safe investments following a weaker-than-expected report on the housing market.
What prices are doing: The benchmark 10-year note was up 6/32 to 102-11/32 and its yield fell to 3.22% from 3.24%. Bond prices and yields move in opposite directions.
The 30-year bond gained 5/32 to 103-24/32 and its yield was 4.15%.
The 2-year note was little changed at 100-1/32 and yielded 0.73%. The government is offering $40 billion worth of the securities in the first of three auctions this week.
What's moving the market: Existing home sales fell to a seasonally adjusted annual unit rate of 5.66 million in May, the National Association of Realtors reported. That was down from a 5.77 million unit rate in April and short of forecasts for a rise to 6.1 million units.
The report raised worries that the economy could be heading into a so-called double-dip recession, and added to ongoing concerns about the European debt crisis.
In addition to Tuesday's offering of 2-year notes, the U.S. is scheduled to auction $38 billion in 5-year notes on Wednesday and $30 billion in 7-year notes on Thursday.
Meanwhile, Federal Reserve policy makers opened a two-day meeting Tuesday with an announcement expected Wednesday.
The central bank is widely expected to hold short-term interest rates steady at historic lows near zero and to indicate that they will continue to do so for the foreseeable future. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
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