Friday’s bond market has opened in negative territory despite weaker than expected economic news. Stocks are mixed with the Dow down 42 points and the Nasdaq up 21 points. The bond market is currently down 4/32 (2.63%), which should push this morning’s mortgage rates higher by approximately .125 of a discount point.
Next week does not bring us a large number of reports, but does have a couple of important releases late in the week, including the initial 4th quarter GDP reading. In addition to the data, there are two Treasury auctions that have the potential to affect rates slightly mid-week. Look for details on all of next week’s activities, along with relevant weekend news, in Sunday’s evening’s weekly preview.