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January 6th Mortgage Market Wrap-up 2

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

Mortgage backed securities (MBS) closed up 22 basis points today 103.09 having burst through resistance above and approached some of the highest levels of all time.  Despite an excellent jobs report which initially sent mortgage bonds reeling, fears about the high yields of Italian bonds bonds forced another round of "safe haven" trading as money flowed out of stocks into bonds.  Will the trend keep going higher?  Probably not siince 10 year Treasuries are not yielding enough to keep pace with inflation.  The 30 year fixed rate fell to 3.75% today.

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