Long-term mortgage interest rates fell considerably Wednesday, and the benchmark 10-year Treasury bond yield dropped to 3.91 percent.
The 30-year fixed-rate average sank to 5.7 percent, and the 15-year fixed rate slid to 5.22 percent. The 1-year adjustable rate was down at 5.41 percent.
The 30-year Treasury bond yield dropped to 4.35 percent.
Rates and bonds 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 220.86 points, or 1.67 percent, finishing at 13,043.96. The Nasdaq tumbled 42.65 points, or 1.61 percent, closing at 2,609.63.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
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