Industry News

Overnight real estate rates taper off

30-year fixed rate down at 5.34%; 10-year Treasury down at 4.17%

Long-term mortgage interest rates sank Wednesday, and the benchmark 10-year Treasury bond yield fell to 4.17 percent. The 30-year fixed-rate average dipped to 5.34 percent, and the 15-year fixed-rate slipped to 4.9 percent. The 1-year adjustable was up at 3.95 percent. The 30-year Treasury bond yield dropped to 4.46 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 103.49 points, or 0.99 percent, finishing at 10,378.03. The Nasdaq dropped 24.69 points, or 1.16 percent, closing at 2,106.64. 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....

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