Drop in overnight real estate rates
30-year fixed rate at 6.11%; 10-year Treasury yield at 4.68%
By Inman News, Monday, October 15, 2007.Long-term mortgage interest rates dipped Friday, and the benchmark 10-year Treasury bond yield rose to 4.68 percent.
The 30-year fixed-rate average sank to 6.11 percent, and the 15-year fixed rate slipped to 5.73 percent. The 1-year adjustable was down at 5.75 percent.
The 30-year Treasury bond yield climbed to 4.9 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 gained 77.96 points, or 0.56 percent, finishing at 14,093.08. The Nasdaq jumped 33.48 points, or 1.21 percent, closing at 2,805.68.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.
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