Updated on February 11, 2016 10:57:10 AM EST Thursday’s bond market has opened well in positive territory as overnight gains extend into this morning’s trading. Stocks are continuing their slide with the Dow down 222 points and the Nasdaq down 39 points. The bond market is currently up 22/32 (1.61%), which with strength late yesterday should improve this morning’s mortgage rates by approximately .375 of a discount point if comparing to Wednesday’s morning pricing.
OpenClose Mortgage Software
Yesterday’s relatively important 10-year Treasury auction went pretty well. Bonds improved during afternoon trading, but I don’t believe this sale played too much of a role in that move. It does however, help us to be optimistic about today’s 30-year Bond auction. If demand for these securities is strong, we could see bonds extend this morning’s gains later today. Results will be posted at 1:00 PM ET, so any reaction will come during early afternoon trading.