Industry News

Overnight mortgage rates nudge higher

30-year up at 5.51%; 10-year Treasury down at 4.27%
Published on Aug 12, 2004

Long-term mortgage interest rates were higher Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.27 percent. The 30-year fixed-rate average rose to 5.51 percent, and the 15-year fixed-rate climbed to 4.94 percent. The 1-year adjustable was unchanged at 3.26 percent. The 30-year Treasury bond yield dipped to 5.06 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 down 6.35 points, or 0.06 percent, finishing at 9,938.32. The Nasdaq was down 26.28 points, or 1.45 percent, closing at 1,782.42. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....

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