Tuesday’s bond market has opened up sharply following much weaker than expected housing news and early selling in stocks. The major stock indexes are showing sizable losses of 303 points in the Dow and 404 points in the Nasdaq. The bond market is currently up 31/32 (2.75%), which should improve this morning’s mortgage rates by approximately .250 of a discount point.
31/32
Bonds
30 yr - 2.75%
303
Dow
31,576
404
NASDAQ
11,130