Industry News

Overnight mortgage rates jump

30-year up at 5.45%; 10-year Treasury down at 4.16%

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Long-term mortgage interest rates were higher Monday, and the benchmark 10-year Treasury bond yield fell to 4.16 percent. The 30-year fixed-rate average rose to 5.45 percent, and the 15-year fixed-rate increased to 4.85 percent. The 1-year adjustable jumped to 3.28 percent. The 30-year Treasury bond yield dipped to 4.92 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 24.11 points, or 0.2 percent, finishing at 10,216.76. The Nasdaq was up 10.2 points, or 0.5 percent, closing at 1,952.4. 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 opinion@inman.com....