Wednesday, March 1st

Wednesday’s bond market has opened in well in negative territory in response to strong stocks gains fueled by President Trump’s speech last night. The major stock indexes are sharply higher with the Dow up 254 points and the Nasdaq up 55 points. The bond market is currently down 19/32 (2.46%). This morning’s losses, coupled with weakness late yesterday should push this morning’s mortgage rates higher by approximately .500 of a discount point if comparing to Tuesday’s early pricing.