Last Updated: 10/10/2007

Wednesday's bond market has opened down slightly despite stock weakness. The stock markets are showing sizable losses with the Dow down 82 and the Nasdaq nearly unchanged. The bond market is currently down 2/32, which will likely push this morning's mortgage rates higher by approximately .125 of a discount point. There is no relevant economic data scheduled for release today. The Fed posted the minutes from their last FOMC meeting yesterday afternoon. They gave investors reason to believe that more rate cuts are coming in the near future. This led to a stock market rally late yesterday, but did not affect mortgage rates by much. Please enjoy the rest of your day!