Industry News

Overnight mortgage rates fall

30-year down at 5.25%; 10-year Treasury up slightly at 4%

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Long-term mortgage interest rates were slightly lower Thursday, and the benchmark 10-year Treasury bond yield was up slightly at 4 percent. The 30-year fixed-rate average slipped to 5.25 percent, and the 15-year fixed-rate fell to 4.65 percent. The 1-year adjustable was unchanged at 3.21 percent. The 30-year Treasury bond yield remained at 4.77 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 21.17 points, or 0.21 percent, finishing at 9,865.76. The Nasdaq was up 20.65 points, or 1.07 percent, closing at 1,953.62. 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....