Thursday’s bond market has opened in negative territory following much stronger than expected economic news. Stocks are reacting negatively to the strong data also as it raises concerns the Fed may now act sooner than later to limit economic growth and inflation. The Dow is currently down 136 points while the Nasdaq has lost 93 points. The bond market is currently down 10/32 (1.33%), which should push this morning’s mortgage rates higher by approximately .250 of a discount point.
30 yr - 1.33%