Market Update

Last Updated: 11/19/2007

Monday's bond market has opened in positive territory following another weak morning in stocks. The Dow is currently down 167 points while the Nasdaq has lost 35 points. The bond market is currently up 10/32, which will likely improve this morning's mortgage rates by approximately .125 of a discount point.
There is no relevant economic news scheduled for release today. The rest of this holiday-shortened week brings us the release of three factual economic releases. However, none of them are likely to affect mortgage rates much. The bond market is expected to close early Wednesday and Friday and be closed the entire day Thursday in observance of the Thanksgiving Day holiday. In addition, I expect to see light trading in the financial markets most of the time that the markets are open.