Industry News

Another drop in overnight real estate rates

30-year fixed rate at 5.45%; 10-year Treasury yield at 3.77%

Long-term mortgage interest rates were lower again Monday, and the benchmark 10-year Treasury bond yield dropped to 3.77 percent. The 30-year fixed-rate average sank to 5.45 percent, and the 15-year fixed rate slipped to 4.98 percent. The 1-year adjustable rate was down at 5.29 percent. The 30-year Treasury bond yield fell to 4.36 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 climbed 171.85 points, or 1.36 percent, finishing at 12,778.15. The Nasdaq jumped 38.36 points, or 1.57 percent, closing at 2,478.3. Stock 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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