Industry NewsMarkets & Economy

Overnight real estate rates drift higher

30-year fixed rate at 5.74%; 10-year Treasury yield at 3.81%
Published on May 22, 2008

Long-term mortgage interest rates increased Wednesday, and the benchmark 10-year Treasury bond yield climbed to 3.81 percent.The 30-year fixed-rate average rose to 5.74 percent, and the 15-year fixed rate gained to 5.31 percent. Meanwhile, the 1-year adjustable rate fell to 5.87 percent.The 30-year Treasury bond yield edged up to 4.54 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 plunged 227.49 points, or 1.77 percent, finishing at 12,601.19. The Nasdaq lost 43.99 points, or 1.77 percent, closing at 2,492.26.Stock figures are current as of 7:30 p.m. Eastern Standard Time.*** What's your opinion? Leave your comments below or send a letter to the editor....

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