Industry News

Overnight real estate rates fall

30-year fixed rate down at 5.31%; 10-year Treasury down at 4.17%

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Long-term mortgage interest rates continued lower Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.17 percent. The 30-year fixed-rate average dropped to 5.31 percent, and the 15-year fixed-rate slipped to 4.92 percent. The 1-year adjustable was down at 3.83 percent. The 30-year Treasury bond yield decreased to 4.39 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 84.71 points, or 0.81 percent, finishing at 10,434.87. The Nasdaq fell 8.34 points, or 0.39 percent, closing at 2,128.91. 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....