October 19th Mortgage Market Wrap-up 2

Mortgage backed securities (MBS) closed even today at 101.16 having remained in a range below resistance offered by the 50 day moving average and above support offered by the close of 9/16.  Logically, with no movement, the closing candle does not help much in attempting to determine a trend.  Although slowed down somewhat by a better than expected housing report, MBS bonds were buoyed by a core CPI reading on inflation which showed just .1% increase month over month.  A 20 year fixed mortgage was available at 3.75% today.