Industry News

Overnight real estate rates end 11-day climb

30-year fixed rate at 6.37%; 10-year Treasury yield at 5.16%

Long-term mortgage interest rates fell Friday after a week and a half of increases, and the benchmark 10-year Treasury bond yield sank to 5.16 percent. The 30-year fixed-rate average slipped to 6.37 percent, and the 15-year fixed rate dipped to 6.07 percent. The 1-year adjustable was down to 5.57 percent. The 30-year Treasury bond yield dropped to 5.26 percent. Rates and bonds 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 85.76 points, or 0.63 percent, finishing at 13,639.48. The Nasdaq was up 27.3 points, or 1.05 percent, closing at 2,626.71. Stock figures are current as of 7:30 p.m. Eastern Standard Time....