Friday’s bond market has opened well in positive territory following much softer than expected employment data. Stocks are rallying with the Dow up 412 points and the Nasdaq up 276 points. The bond market is currently up 15/32 (4.51%), which should improve this morning’s mortgage rates by approximately .500 of a discount point if compared to Thursday’s early pricing. Some lenders may have posted an intraday improvement late yesterday as bonds improved into closing. If you saw rates revised lower during afternoon trading, you will likely see a smaller improvement this morning.
15/32
Bonds
30 yr - 4.51%
412
Dow
38,638
276
NASDAQ
16,117