Industry News

Real estate rates drop for 5th night

30-year fixed rate at 5.55%; 10-year Treasury yield at 3.78%

The ROI Producing Real Estate Event of the Summer
Reach top decision-makers at Inman Connect

Long-term mortgage interest rates continued to fall Tuesday, and the benchmark 10-year Treasury bond yield dipped to 3.78 percent. The 30-year fixed-rate average sank to 5.55 percent, and the 15-year fixed rate slid to 5.06 percent. The 1-year adjustable rate, however, was up at 5.34 percent. The 30-year Treasury bond yield slipped to 4.31 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 238.42 points, or 1.86 percent, finishing at 12,589.07. The Nasdaq lost 58.95 points, or 2.36 percent, closing at 2,440.51. Stock 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. ...