June 29th, 2010 9:15 AM by BILL WILBANKS
The 10 year closed at 3.0263% yesterday. This AM it's currently below 3% to 2.9867%. We were in the heart of crisis the last time we were in the 2's. Will we see lower points and therefore a little more help on rates this morning? Remains to be seen in the next 30 minutes or so as opening sheets begin to come out. What's up with bonds? Read on . . .
UPDATE: DOW down 280 points earlier and just over 200 before noon on lower consumer confidence and bond is up 15/32...already seen a 0.25% discount point reduction, so...
Wow! 4.375%/zero point 30 yr fixed and 3.875%/zero point on purchases!