Friday’s bond market has opened sharply higher following new COVID headlines over the holiday. Stocks are in a major sell-off as a result of the same news, pushing the Dow lower by 943 points and the Nasdaq down 258 points. The bond market is currently up 40/32 (1.50%), which should improve this morning’s mortgage rates by approximately .500 of a discount point if compared to Wednesday’s early pricing. The financial and mortgage markets were closed yesterday for the Thanksgiving holiday.
30 yr - 1.50%