Updated on April 17, 2015 11:18:16 AM EDT Friday’s bond market has opened flat even though stocks are in heavy sell mode. The Dow is currently down 262 points while the Nasdaq has fallen 74 points. The bond market is currently down 1/32 (1.89%), which should keep this morning’s mortgage rates at yesterday’s levels.
OpenClose Mortgage Software
This morning’s economic data gave us mixed results, but with stocks selling off I don’t believe the results of the reports even matter to traders today. The first of the three reports released today was March's Consumer Price Index (CPI) at 8:30 AM ET. It showed that the overall CPI reading rose 0.2% as did the more important core data that excludes more volatile food and energy prices. Analysts were expecting to see a 0.3% rise in the overall and only a 0.1% increase in the core data. The readings indicate that inflationary pressures at the consumer level of the economy remain pretty subdued. That is generally good news for bonds and mortgage pricing, although the higher core reading makes us consider today’s report slightly negative for mortgage rates.