Jun 28, 2010 8:49 PM by Chris Welty

Interest Rates Extend Drop on Fears of Slowdown

NEW YORK (AP) - Interest rates have fallen to new lows for the
year in the bond market after concerns grew that a global rebound
is stalling.
The yield on the benchmark 10-year Treasury note maturing in May
2020 has fallen Monday to 3.03 percent from 3.11 percent Friday.
That was the lowest yield since April 2009. Its price rose 78.125
cents per $100 in face value to $104.03125.
The drop in rates is welcome news for borrowers because the
10-year yield is tied to interest rates on mortgages and other
consumer loans.


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