Mortgage Rates Trend Downward

Real estate rates fall further overnight

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30-year fixed rate at 5.79%; 10-year Treasury yield at 4.56%
Thursday, November 02, 2006

Inman News

Long-term mortgage interest rates continued lower Wednesday, and the benchmark 10-year Treasury bond yield dropped to 4.56 percent.

The 30-year fixed-rate average sank to 5.79 percent, and the 15-year fixed rate fell to 5.5 percent. The 1-year adjustable was down at 5.33 percent.

The 30-year Treasury bond yield declined to 4.68 percent.

Rates 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 lost 49.71 points, or 0.41 percent, finishing at 12,031.02. The Nasdaq was down 32.36 points, or 1.37 percent, closing at 2,334.35.

Stock and bond figures are current as of 7:30 p.m. Eastern Standard Time.