June 13th Mortgage Market Wrap-up 2

Mortgage backed securities (MBS) closed up 19 basis points today 104.84 ending a streak of three consecutive losing sessions.  MBS bonds drifted down to the 25 day moving average before bouncing back up to the closing mark.  Markets are extremely volatile currently so I am watching the market moment to moment making sure I keep my clients on target to get the best rates.  The auction of 10 year Treasury bonds today earned a B+ rating which kept them afloat.  The 30 year fixed rate is at 3.75% again today.