Stocks didn’t make up all their losses from yesterday but did manage to still recover by triple digits at the close today. The Dow finished up 167.36 to close above 17000 and the S&P 500 and NASDAQ moved into positive territory as well. It was the fifth straight day the Dow moved in triple digits showingstocks partically recover losses signs of volatility.

And for good reason as both stocks and bonds are trying to figure out the next move with two days of trading left in the third quarter.

The final revision of 2Q GDP was released and again, the number was revised upward, this time showing a 4.6% gain. That along with consumer sentiment for September as reported by the Reuters/Univ. of Michigan survey notched its highest level in more than a year. Bonds fell during the day, tried to come back but ended up with losses across both the short and long ends. Trading has been light over the past couple of days in large part due to Rosh Hashanah and with only two days left in the month as well as Q3 it’s quite possible we’ll see quite a few swings Monday and Tuesday as investors take positions to end the quarter and prepare for the rest of the year.

Interest rates have indeed remained relatively the same since yesterday and long term mortgage rates for real estate investors are still in the low 4.00 percent range, still an attractive rate. New home sales for August took a nice jump but sales for existing homes for the same period surprised many by falling 1.8 percent to 5.05 million units. Smaller, existing single family homes are the standard purchase for first time home buyers moving into the fall. Due to the volatility in the mortgage-backed securities markets the only predictor is rates will go up, just not sure how much and when. For now though, they’re still a nice range.