Industry News

Overnight real estate rates jump

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Long-term mortgage interest rates continued higher Wednesday, and the benchmark 10-year Treasury bond yield climbed to 4.14 percent. The 30-year fixed-rate average rose to 5.27 percent, and the 15-year fixed-rate increased to 4.83 percent. The 1-year adjustable was unchanged at 3.82 percent. The 30-year Treasury bond yield grew 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 gained 44.26 points, or 0.42 percent, finishing at 10,633.5. The Nasdaq rose 5.17 points, or 0.24 percent, closing at 2,172.03. 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....