Updated on November 25, 2014 11:18:24 AM EST Tuesday’s bond market has opened up slightly following the release of mixed economic data and a mixed open in stocks. The Dow is currently down 13 points while the Nasdaq has gained 8 points. The bond market is currently up 3/32 (2.29%), which may improve this morning’s mortgage rates by approximately .125 of a discount point. However, most of that improvement is from strength late yesterday and not gains this morning.
OpenClose Mortgage Software
There were two pieces of economic data released this morning. The first was the first revision to the 3rd Quarter Gross Domestic Product (GDP) at 8:30 AM ET. It came in with a 3.9% annual rate of growth that exceeded forecasts. Analysts were expecting to see a downward revision from the initial estimate of 3.5%, not an upward change. This means the economy was stronger during the 3rd quarter than many had thought, making the data bad news for bonds and mortgage rates.