Updated on February 26, 2015 10:55:10 AM EST Wednesday’s bond market has opened flat with no Thursday’s bond market has opened down slightly following the release of mixed economic news and a fairly calm open in stocks. The major stock indexes are mixed during early trading with the Dow down 15 points and the Nasdaq up 4 points. The bond market is currently down 2/32 (1.97%), which should push this morning’s mortgage rates higher by approximately .125 of a discount point.
OpenClose Mortgage Software
There were three pieces of relevant economic data posted at 8:30 AM ET this morning. One was January's Durable Goods Orders that showed a 2.8% increase in new factory orders for big-ticket products such as appliances, autos and airplanes. This was stronger than the 1.8% increase that was expected, indicating manufacturing sector strength. However, this data is known to be pretty volatile each month so the variance between forecasts and the actual increase wasn’t too concerning. A secondary reading in the report that excludes more volatile and costly transportation-related orders fell short of forecasts by 0.2%. Therefore, we can consider the data neutral for mortgage rates.