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Overnight Real Estate Rates Dip

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Monday, May 22, 2006

Overnight Real Estate Rates Dip

30-year fixed rate at 6.2%


  by Real Estate Articles from Inman News

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Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield held at 5.06 percent.

The 30-year fixed-rate average slipped to 6.2 percent, and the 15-year fixed-rate dropped to 5.86 percent. The 1-year adjustable held at 5.29 percent.

The 30-year Treasury bond yield fell to 5.14 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 gained 15.77 points, or 0.14 percent, finishing at 11,144.06. The Nasdaq rose 13.56 points, or 0.62 percent, closing at 2,193.88.

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