Tuesday’s bond market has opened in positive territory again following weaker than predicted manufacturing data. Stocks are responding as expected, pushing the Dow lower by 443 points and the Nasdaq down 113 points. The bond market is currently up 18/32 (4.13%), which should improve this morning’s mortgage rates by approximately .250 - .375 of a discount point. If you saw an intraday increase in rates yesterday, you may see a larger improvement this morning as those bond losses are reversed and coupled with this morning’s gains.
18/32
Bonds
30 yr - 4.13
443
Dow
41,558
115
NASDAQ
17,185