November 25th Mortgage Market Wrap-up 2

Mortgage backed securities(MBS) closed down 31 basis points today at 101.62 having fallen below support offered by the 50 day and 25 daymoving averages.  The next level of support below will be determined on Monday.  During today's holiday shortened trading session, any volatility was accentuated by the low trading volume.  Good news from the malls about large turnouts for "Black Friday" sales caused bond markets to turn sour on the day after our Thanksgiving holiday.