Industry News

Overnight mortgage rates sink

30-year fixed down at 5.05%; 10-year Treasury holds at 3.68%

Long-term mortgage interest rates were lower Wednesday, and the benchmark 10-year Treasury bond yield stayed at 3.68 percent. The 30-year fixed-rate average fell to 5.05 percent, and the 15-year fixed-rate dropped to 4.38 percent. The 1-year adjustable decreased to 2.92 percent. The 30-year Treasury bond yield remained at 4.64 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5. In other economic news, the Dow Jones Industrial Average was up 115.63 points, or 1.14 percent, finishing at 10,300.3. The Nasdaq was up 33.67 points, or 1.73 percent, closing at 1,976.76. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....

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