Industry News

Overnight real estate rates trend lower

30-year fixed rate slips to 5.34%; 10-year Treasury down at 4.21%

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Long-term mortgage interest rates fell again Tuesday, and the benchmark 10-year Treasury bond yield dropped to 4.21 percent. The 30-year fixed-rate average sank to 5.34 percent, and the 15-year fixed-rate dipped to 4.96 percent. The 1-year adjustable was up at 3.85 percent. The 30-year Treasury bond yield declined to 4.42 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 lost 120.93 points, or 1.14 percent, finishing at 10,513.45. The Nasdaq fell 29.98 points, or 1.38 percent, closing at 2,137.06. 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....