Industry News

Interest rate trouble

Cost of money for real estate rising

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Long-term mortgage interest rates were up Monday, and the benchmark 10-year Treasury bond yield surged to 4.87 percent. The 30-year Treasury bond yield climbed to 5.53 percent. The 30-year fixed-rate average inched up to 6.03 percent, and the 15-year fixed-rate rose to 5.41 percent. The 1-year adjustable was up at 3.51 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 down 75.37 points, or 0.72 percent, finishing at 10,334.73. The Nasdaq was down 29.88 points, or 1.49 percent, closing at 1,969.99. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. *** What's your opinion? Send your Letter to the Editor to