30-year fixed rate at 5.96%; 10-year Treasury yield at 4.39%
Monday, October 22, 2007
Long-term mortgage interest rates fell considerably Friday, and the benchmark 10-year Treasury bond yield sank to 4.39 percent.
The 30-year fixed-rate average dropped to 5.96 percent, and the 15-year fixed rate sank to 5.57 percent. The 1-year adjustable held at 5.73 percent.
The 30-year Treasury bond yield declined to 4.69 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 plummeted 366.94 points, or 2.64 percent, finishing at 13,522.02. The Nasdaq tumbled 74.15 points, or 2.65 percent, closing at 2,725.16.
Stock figures are current as of 7:30 p.m. Eastern Standard Time.