Friday’s bond market has opened significantly higher following weaker than expected economic data both here and internationally. Stocks are having a muted response to the headlines with the Dow down 11 points and the Nasdaq up 43 points. However, the bond market is currently up 57/32 (2.80%), which should equate to an improvement in this morning’s mortgage rates of approximately .750 – 1.000 of a discount point.
57/32
Bonds
30 yr - 2.80%
11
Dow
30,763
43
NASDAQ
11,071