Thursday’s bond market initially opened relatively flat but in the past 30 minutes has tanked following another tweet from President Trump that indicated a trade deal with China was near. Stocks are showing the same pattern this morning, opening calm but now are showing strong gains. The Dow is currently up 244 points and the Nasdaq is up 71 points. The bond market is currently down 21/32 (1.86%), which will erase all of yesterday’s post-FOMC gains to keep this morning’s mortgage rates close to Wednesday’s early levels. Bonds rallied yesterday afternoon, causing some lenders to improve rates before the end of the day. If you did see an intraday revision, you will almost certainly see an increase in this morning’s pricing.
30 yr - 1.86%