Industry News

Mortgage rates rise

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Long-term mortgage interest rates continued to climb Monday, and the benchmark 10-year Treasury bond yield moved up to 4.79 percent. The 30-year fixed-rate average increased to 6.08 percent, and the 15-year fixed-rate rose to 5.43 percent. The 1-year adjustable was up at 3.39 percent. The 30-year Treasury bond yield increased to 5.47 percent. Rates 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 was down 127.32 points, or 1.26 percent, finishing at 9,990.02. The Nasdaq was down 21.89 points, or 1.14 percent, closing at 1,896.07. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. *** Send tips, feedback or a letter to the editor to newsroom@inman.com or call (510) 658-9252, ext. 124....