Industry News

Overnight mortgage rates rise

30-year up at 5.43%; 10-year Treasury up at 4.22%

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Long-term mortgage interest rates were higher Wednesday, and the benchmark 10-year Treasury bond yield rose to 4.22 percent. The 30-year fixed-rate average inched up to 5.43 percent, and the 15-year fixed-rate increased to 4.83 percent. The 1-year adjustable was unchanged at 3.27 percent. The 30-year Treasury bond yield jumped to 4.97 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 62.24 points, or 0.61 percent, finishing at 10,239.92. The Nasdaq was up 15.53 points, or 0.79 percent, closing at 1,971.03. 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....