Industry News

Upward trend for overnight real estate rates

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Long-term mortgage interest rates continued higher Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.34 percent. The 30-year fixed-rate average climbed to 5.41 percent, and the 15-year fixed-rate grew to 5 percent. The 1-year adjustable was up at 3.78 percent. The 30-year Treasury bond yield climbed to 4.54 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 gained 60.59 points, or 0.57 percent, finishing at 10,683.74. The Nasdaq rose 22.77 points, or 1.04 percent, closing at 2,218.15. 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....