Industry News

Overnight real estate rates barely budge

30-year fixed rate down at 5.3%; 10-year Treasury down at 4.09%

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Long-term mortgage interest rates were mostly unchanged Tuesday, and the benchmark 10-year Treasury bond yield dropped to 4.09 percent. The 30-year fixed-rate average dipped to 5.3 percent, and the 15-year fixed-rate stayed at 4.91 percent. The 1-year adjustable was down at 3.87 percent. The 30-year Treasury bond yield fell to 4.31 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 lost 50.23 points, or 0.48 percent, finishing at 10,412.82. The Nasdaq fell 7.89 points, or 0.37 percent, closing at 2,129.76. 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 opinion@inman.com....