Industry News

Slump in overnight real estate rates

30-year fixed rate down at 5.35%; 10-year Treasury down at 4.2%

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Long-term mortgage interest rates dipped Thursday, and the benchmark 10-year Treasury bond yield dropped to 4.2 percent. The 30-year fixed-rate average sank to 5.35 percent, and the 15-year fixed-rate slipped to 4.96 percent. The 1-year adjustable was down at 3.79 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 rose 4.22 points, or 0.04 percent, finishing at 10,554.93. The Nasdaq lost 9.07 points, or 0.42 percent, closing at 2,136.08. 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....