Industry News

Overnight interest rates down, benchmark bond up

30-year fixed rate at 5.25%; 10-year Treasury yield at 3.57%

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Long-term mortgage interest rates continued lower Wednesday, and the benchmark 10-year Treasury bond yield rose to 3.57 percent. The 30-year fixed-rate average sank to 5.25 percent, and the 15-year fixed rate fell to 4.79 percent. The 1-year adjustable rate dropped to 5.15 percent. The 30-year Treasury bond yield was up at 4.27 percent. Rates and bonds are current as of 7:15 p.m. Eastern Standard Time. Mortgage rate figures are according to, 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 surged 298.98 points, or 2.5 percent, finishing at 12,270.17. The Nasdaq gained 24.14 points, or 1.05 percent, closing at 2,316.41. Stock figures are current as of 7:30 p.m. Eastern Standard Time. *** What's your opinion? Send your Letter to the Editor to ...