Industry News

Overnight mortgage rates drop

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Long-term mortgage interest rates fell slightly Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.23 percent. The 30-year fixed-rate average dipped to 5.42 percent, and the 15-year fixed-rate slipped to 4.84 percent. The 1-year adjustable was down at 3.21 percent. The 30-year Treasury bond yield increased to 5.03 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 up 110.32 points, or 1.11 percent, finishing at 10,083.15. The Nasdaq was up 36.12 points, or 2.01 percent, closing at 1,831.37. 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....