Industry News

Overnight real estate rates fall

30-year down at 5.23%; 10-year Treasury down at 4.18%

Long-term mortgage interest rates were lower Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.18 percent. The 30-year fixed-rate average dropped to 5.23 percent, and the 15-year fixed-rate slipped to 4.74 percent. The 1-year adjustable was up sharply at 3.7 percent. The 30-year Treasury bond yield fell to 4.67 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 88.82 points, or 0.84 percent, finishing at 10,539.97. The Nasdaq was down 32.45 points, or 1.54 percent, closing at 2,073.59. 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....