Updated on March 27, 2015 10:57:32 AM EDT Friday’s bond market has opened in positive territory following mixed economic data. The major stock indexes are showing minor gains with the Dow up 28 points and the Nasdaq up 16 points. The bond market is currently up 8/32 (1.97%), but due to weakness late yesterday we likely will see little change in this morning’s mortgage rates.
OpenClose Mortgage Software
We again saw afternoon selling in bonds yesterday that caused many lenders to make upward intra-day revisions to mortgage rates. A contributing factor to yesterday’s action was a weak 7-year Treasury Note auction that followed a poor 5-year Note sale Wednesday. Both sales indicated a lackluster investor interest in the securities that spilled over to the broader bond market after results were posted at 1:00 PM ET. If your lender did revise their rates higher late yesterday, you should see an improvement of approximately the same amount in this morning’s pricing. If your lender did not adjust for the move yesterday, you should see little change in this morning’s rates.