Mortage Rates drop again

The news was released this afternoon that interest rates have now fallen for the third time in three days. In light of  unemployment statistics this week , then one could possibly expect this action to aid in stimulating the home buyers market.

"Long-term mortgage interest rates fell considerably Friday, and the benchmark 10-year Treasury bond yield sank to 4.38 percent.

The 30-year fixed-rate average dropped to 5.98 percent, and the 15-year fixed rate slipped to 5.64 percent. The 1-year adjustable declined to 5.91 percent.

The 30-year Treasury bond yield was down at 4.7 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 249.97 points, or 1.87 percent, finishing at 13,113.38. The Nasdaq lost 48.62 points, or 1.86 percent, closing at 2,565.7.

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