Industry News

Overnight mortgage rates rise

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Long-term mortgage interest rates were up Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.78 percent. The 30-year fixed-rate average inched up to 6.02 percent, and the 15-year fixed-rate increased to 5.39 percent. The 1-year adjustable was unchanged at 3.48 percent. The 30-year Treasury bond yield increased to 5.49 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 30.8 points, or 0.31 percent, finishing at 9,937.71. The Nasdaq was up 0.35 points, or 0.02 percent, closing at 1,898.17. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. *** Send tips or a letter to the editor to newsroom@inman.com or call (510) 658-9252, ext. 124....