Last Updated: 10/19/2007

Friday's bond market has opened well in positive territory following early significant weakness in stocks. The stock markets are posting sharp losses with the Dow down 204 points and the Nasdaq down 37 points. The bond market is currently up 23/32, which will likely improve this morning's mortgage rates by approximately .250 of a discount point over yesterday's morning rates. There is no relevant economic news scheduled for release today. The selling in stocks is a result of corporate earnings news, more credit fears and oil prices that remain above $90 per barrel. That selling has made bonds more attractive to investors as they seek safe-haven from the volatility. The result is bond prices rising and mortgage rates moving lower. Please have a safe and pleasant weekend.