Monday’s bond market has opened in positive territory, reacting favorably to this weekend’s news that the Senate passed the bill named the Inflation Reduction Act. Stocks are showing early gains with the Dow up 300 points and the Nasdaq up 178 points. The bond market is currently up 16/32 (2.76%), which should improve this morning’s mortgage rates by approximately .125 - .250 of a discount point if compared to Friday’s early pricing.
16/32
Bonds
30 yr - 2.76%
300
Dow
33,104
178
NASDAQ
12,836