Monday, December 28, 2009

Market Update

Monday's bond market has opened in negative territory following minor gains in stocks. The stock markets are starting the week in positive ground, but not by much. The Dow is currently up 12 points while the Nasdaq has gained 4 points. The bond market is currently down 8/32, which will likely push this morning's mortgage rates higher by approximately .250 of a discount point compared to Thursday's morning rates.
There is no relevant news scheduled for release today, leaving the stock markets to heavily influence bond trading and mortgage rates. If the major stock indexes remain near current levels, I suspect that bond prices and mortgage rates will follow suit today.
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