Stocks gained more ground again today as more companies have reported better than expected earnings. The Dow finished up 216.58 at 16677.90, another triple digit gain yet still falling short of the 17000 mark. The S&P 500 rose 23.71 closing at 1950.82 while the NASDAQ also locked in gains of 69.95stocks up to notch 4452.79.

Stocks had been higher during the day across the board but there appeared to have been some technical pull back in the S&P 500 as well as continuing Ebola concerns. The yield on the 10 year Treasury moved up 6 bps while the FNMA 30 yr 3.5 coupon fell -8/32 as investors took to stocks with a bit more appetite for risk.

Mortgage rates according to Freddie Mac fell a bit more as well. The 30 year mortgage rate dropped five basis points from the previous week, 3.97% to 3.92% while the 15 year note dropped even further by 10 basis points to 3.08% from 3.18%. Stocks and bonds have been tracking in a more traditional fashion as the wariness of the QEIII demise has had little impact. Especially so with certain Fed members stating the Fed will be at the ready in case the economy begins to falter.

Existing home sales for September showed a slight increase from the previous month, this according to the National Association of Realtors. According to the group, sales of existing homes rose a tad over 2.00 percent over the August number. Sales of new homes will be reported tomorrow, October 23 as economists expect a number near 475,000 but shouldn’t have much of an impact in the credit or stock markets.