Friday’s bond market has opened in negative territory, giving back yesterday’s late rally. Stocks are showing sizable losses, pushing the Dow lower by 386 points and the Nasdaq down 63 points. The bond market is down only 1/32 (1.51%), but mortgage bonds have lost enough ground to erase the rally we saw late yesterday. The net result will be a slight increase in this morning’s mortgage rates compared to Thursday’s early pricing. However, if you saw an intraday improvement Thursday afternoon, you should see an increase of the same size in today’s pricing.
30 yr - 1.51%