Mortgage bond prices opened higher Friday morning applying downward pressure to mortgage rates. Rates are finding support from weak stock futures, an indication the DOW Jones index will open lower. In news released at the open, retail sales, an indication of the mood of the consumer, rose 0.4%. That data was near expectations and had little effect on trade. Market participants are now waiting for the release of industrial production and capacity utilization data set for 9:15 am ET, stocks to begin trade at 9:30 am ET and the University of Michigan consumer sentiment report set for 10:00 am ET.
Carlos Figueira - Keypoint Mortgage 