As bad as things were in the Treasury market, they were even worse in mortgage-land. Mortgage backed securities tumbled in value, while yields soared (Some good stuff at this blog
if you're interested). Street-level mortgage rates are likely rising by anywhere from 3/8 to 1/2 of a percentage point in response. Speaking of Treasuries, the pain just keeps on coming in the bond futures market. I'm showing long bond futures off 2 26/32 in extended trading.