Industry News

Overnight real estate rates ease

30-year fixed rate down at 5.52%; 10-year Treasury up at 4.39%

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Long-term mortgage interest rates sank Tuesday, and the benchmark 10-year Treasury bond yield gained to 4.39 percent. The 30-year fixed-rate average dropped to 5.52 percent, and the 15-year fixed-rate dipped to 5.1 percent. The 1-year adjustable was down at 4.09 percent. The 30-year Treasury bond yield rose to 4.6 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 14.41 points, or 0.14 percent, finishing at 10,253.17. The Nasdaq fell 17.83 points, or 0.86 percent, closing at 2,061.09. 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....