The average contract rate dropped 8 basis points to 10.90%, while the 5-year Treasury yield rose 12 basis points to 4.33%. The index had already flagged that share as a record when it hit the same level in June, a month in which the overall index reached 104.5 on its fifth straight monthly gain. Negative equity share declined 23 basis points to 56.8%, a fourth straight monthly drop after peaking at 59.2% in March.