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November 6th Mortgage Market Wrap-up

Mortgage backed securities closed up 22 basis points today at 101.28 just below a new resistance level at 101.34. As I suggested in yesterday's blog, there were 190,000 job losses in October which was more than the 175,000 expected and the unemployment rate was up to 10.2%. This sparked a wild rally sending MBS bonds up 44 basis points before settling to the 22 point gain for the day. The Dow surprisingly closed up 17 points.

Posted by Jeff Jensen on 11/06/2009 04:33 PM

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Jeff Jensen

Greenwich, CT

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Connecticut Home Mortgage

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