Tuesday’s bond market has opened in positive territory with stocks in selling mode. The major indexes are showing significant losses, pushing the Dow lower by 590 points while the Nasdaq has lost 188 points. The bond market is currently up 7/32 (3.03%), which should keep this morning’s mortgage rates close to yesterday’s early levels. The heavy selling in stocks hasn’t impacted mortgage bonds as much as we would expect, at least not yet. That leaves us in a situation where we could see an intraday improvement to rates if stocks do not rebound soon.
30 yr - 3.03%