May 3rd Mortgage Market Wrap-up

Mortgage backed securities (MBS) closed down 19 basis points today at 100.66 exactly at support at the 200 day moving average.  Improving economic news combined with tame inflation kept MBS bonds from falling below the major support levels today.  Greece was in the news again today as both the international monetary fund and the Eurozone pledged to keep them afloat with a three year bailout package.