Real estate rates drop for 5th night
30-year fixed rate at 5.55%; 10-year Treasury yield at 3.78%
Wednesday, January 09, 2008
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.
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