Friday’s bond market has opened sharply lower following the release of surprisingly strong economic data. Stocks are curiously reacting negatively to the data with the Dow down 95 points and the Nasdaq down 124 points. The bond market is in a freefall during early trading, currently down 37/32 (2.82%). This should cause an increase in this morning’s mortgage rates of over .125 of a percent in RATE instead of discount point.
30 yr - 2.82%