Industry News

Mortgage rates move higher

30-year up at 5.89%; 10-year Treasury up at 4.74%

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Long-term mortgage interest rates were higher Monday, and the benchmark 10-year Treasury bond yield rose to 4.74 percent. The 30-year fixed-rate average increased to 5.89 percent, and the 15-year fixed-rate rose to 5.3 percent. The 1-year adjustable was up at 3.43 percent. The 30-year Treasury bond yield climbed to 5.41 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 14.75 points, or 0.14 percent, finishing at 10,357.09. The Nasdaq was down 5.65 points, or 0.28 percent, closing at 2,019.82. 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 newsroom@inman.com....