30-year fixed rate at 5.74%; 10-year Treasury yield at 3.8%
July 04, 2008 08:40 PM
By Inman News
Inman News
Long-term mortgage interest rates increased Monday, and the benchmark 10-year Treasury bond yield inched up to 3.8 percent.
The 30-year fixed-rate average rose to 5.74 percent, and the 15-year fixed rate gained to 5.32 percent. Meanwhile, the 1-year adjustable rate dipped to 5.83 percent.
The 30-year Treasury bond yield increased to 4.53 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 130.43 points, or 1.02 percent, finishing at 12,876.31. The Nasdaq gained 42.97 points, or 1.76 percent, closing at 2,488.49.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
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