Industry News

Overnight real estate rates shoot higher

30-year fixed rate at 5.85%; 10-year Treasury yield at 4.88%

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Long-term mortgage interest rates continued to rise Thursday, and the benchmark 10-year Treasury bond yield jumped to 4.88 percent. The 30-year fixed-rate average gained to 5.85 percent, and the 15-year fixed rate edged up to 5.61 percent. The 1-year adjustable was up at 5.39 percent. The 30-year Treasury bond yield climbed to 4.97 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 119.21 points, or 0.94 percent, finishing at 12,502.56. The Nasdaq was down 32.04 points, or 1.3 percent, closing at 2,434.24. Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time. ...