Industry News

Real estate rates rise for third night

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Long-term mortgage interest rates climbed further Wednesday, and the benchmark 10-year Treasury bond yield dropped to 4.32 percent. The 30-year fixed-rate average inched up to 5.98 percent, and the 15-year fixed rate gained to 5.59 percent. The 1-year adjustable, however, slipped to 5.62 percent. The 30-year Treasury bond yield fell to 4.65 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 tumbled 360.92 points, or 2.64 percent, finishing at 13,300.02. The Nasdaq lost 76.42 points, or 2.7 percent, closing at 2,748.76. Stock figures are current as of 7:30 p.m. Eastern Standard Time. ...