Industry News

Overnight mortgage rates drop

30-year fixed down at 5.18%; 10-year Treasury down at 3.85%

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Long-term mortgage interest rates fell Friday, and the benchmark 10-year Treasury bond yield sank to 3.85 percent. The 30-year fixed-rate average sank to 5.18 percent, and the 15-year fixed-rate slid to 4.46 percent. The 1-year adjustable was down at 3.15 percent. The 30-year Treasury bond yield decreased to 4.76 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. Mortgage rate figures are according to, 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 was up 7.55 points, or 0.07 percent, finishing at 10,595.55. The Nasdaq was down 7.48 points, or 0.36 percent, closing at 2,047.63. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. *** Send a Letter to the Editor for publication.Send a comment or news tip to our newsroom. Please include the headline of the story....