Industry News

Overnight mortgage rates nudge higher

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Long-term mortgage interest rates rose Monday, and the benchmark 10-year Treasury bond yield slipped to 4.15 percent. The 30-year fixed-rate average increased to 5.38 percent, and the 15-year fixed-rate moved up to 4.79 percent. The 1-year adjustable was unchanged at 3.21 percent. The 30-year Treasury bond yield decreased to 4.94 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 1.69 points, or 0.02 percent, finishing at 10,314.76. The Nasdaq was up 16.07 points, or 0.85 percent, closing at 1,910.38. 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....