Thursday's bond market has opened well in negative territory, giving back yesterday's morning gains. The stock markets are a large part of today's early selling, with the Dow up 178 points and the Nasdaq up 43 points. The bond market is currently down 18/32, which will likely push this morning's mortgage rates higher by approximately .375 - .500 of a discount.

The Labor Department said early this morning that 439,000 new claims for unemployment benefits were filed last week. This was a little higher than the previous week, but just short of expectations. However, this data is not important enough to cause this morning's bond weakness and has not had an impact on today's mortgage pricing.

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