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April 22nd Mortgage Market Wrap-up

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

Mortgage backed securities (MBS) closed down 22 basis points today at 100.22 after having passed through tough resistance offereed by the 50 day moving average.  MBS bonds were not able to sustain successes achieved early in the day and finished the day retreating like a dog with its tail between its legs.  An increase and wholesale inflation and the pressure of next week's additional debt auctions caused the late day selloff.

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