Industry News

Real estate rates dip overnight

30-year fixed rate at 5.52%; 10-year Treasury yield at 3.79%

Long-term mortgage interest rates headed lower Friday, and the benchmark 10-year Treasury bond yield dropped to 3.79 percent. The 30-year fixed-rate average sank to 5.52 percent, and the 15-year fixed rate slipped to 5.03 percent. The 1-year adjustable rate was down at 5.34 percent. The 30-year Treasury bond yield fell to 4.38 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 tumbled 246.79 points, or 1.92 percent, finishing at 12,606.3. The Nasdaq lost 48.58 points, or 1.95 percent, closing at 2,439.94. Stock figures are current as of 7:30 p.m. Eastern Standard Time. *** What's your opinion? Send your Letter to the Editor to [email protected] ...

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