March 30th Mortgage Market Wrap-up 2

Mortgage backed securities (MBS) closed dowb 19 basis points today at 102.72 having fallen thorugh support offered by the 25 day moving average and closed just one basis point below the 100 day moving average.  On a day when stocks made back some of their losses of late, MBS bonds struggled but closed above their lows.  Of greater concern is that fact that they closed well below their lows.  There was positive news on producer inflation which helped temper the losses.  The 30 year was available at 4.0% again today.