Thursday’s bond market has opened sharply lower, again erasing gains from yesterday. Stocks are also in negative ground, but in a much more modest way. The Dow is down 47 points while the Nasdaq has lost 86 points. The bond market is currently down 25/32 (1.46%), which should cause this morning’s mortgage rates to be approximately .250 of a discount point higher than Wednesday’s early pricing. We saw bonds rally again during late morning trading, causing many lenders to improve pricing mid-day. However, this morning’s weakness will erase that improvement and some.
30 yr - 1.46%