US stocks hitting the skids going into the close. Mortgage rate follow yields higher.

<p>The major US stock indices are hitting the skids heading into the close. The NASDAQ is now down -1.7% trading a new session lows. The S&amp;P index is also at session lows with a decline of -1.56%.</p><p>In the interest rate market, the rates are trading near highs out the yield curve is traders adjust toward a higher for longer Fed. </p><ul><li>The 10-year yield is trading up +14 basis points to 4.486%. </li><li>The 30 year yield is the biggest mover with a gain of +16.3 basis points and trading at 4.5612%</li></ul><p>The 30 year fixed rate mortgage is following the yield higher with a gain of 14 basis points to 7.47%. That is going to slow down the housing market. </p>

This article was written by Greg Michalowski at www.forexlive.com.