Last Updated: 11/15/2007

Thursday's bond market has opened up slightly after this morning's inflation reading didn't reveal any surprises. The stock markets are showing small gains with the Dow up 7 points and the Nasdaq up 2 points. The bond market is currently up 4/32, which will likely improve this afternoon's mortgage rates by approximately .125 of a discount point. The Labor Department released October's Consumer Price Index (CPI) early this morning, saying that the overall index rose 0.3% while the core data rose 0.2%. These matched forecasts, indicating that inflationary pressures were at expected levels. The lack of a surprise helped ease some inflation fears, but generally speaking the data did not impact bond trading or mortgage rates much.