Industry News

Overnight real estate rates lose ground

30-year fixed rate down at 5.29%; 10-year Treasury down at 4.13%

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Long-term mortgage interest rates flattened Tuesday, and the benchmark 10-year Treasury bond yield fell to 4.13 percent. The 30-year fixed-rate average dropped to 5.29 percent, and the 15-year fixed-rate held at 4.86 percent. The 1-year adjustable was unchanged at 3.86 percent. The 30-year Treasury bond yield decreased to 4.41 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 85.5 points, or 0.8 percent, finishing at 10,597.44. The Nasdaq fell 11.08 points, or 0.51 percent, closing at 2,171.75. 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....