Overnight real estate rates drop sharply

Long-term mortgage interest rates fell considerably Thursday, and the benchmark 10-year Treasury bond yield was down at 3.67 percent.

The 30-year fixed-rate average dove to 5.88 percent, and the 15-year fixed rate plunged to 5.28 percent. The 1-year adjustable rate dipped to 4.83 percent.

The 30-year Treasury bond yield sank to 4.51 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 112.1 points, or 0.88 percent, finishing at 12,582.18. The Nasdaq lost 22.21 points, or 0.94 percent, closing at 2,331.57.

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

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