July 26th Mortgage Market Wrap-up 2

Mortgage backed securities (MBS) closed down 18 basis poiints today at 104.00 having somehow remained near their all-time high despited aa bevy of global and local good news which sent stocks soaring.  The President of the European Central Bank, Mario Draghi, said today that he would do anything possible to ensure that Euro and the European Union remain intact.  Then he reinforced his comments with specific references to helping nations reduce their debt payments.  The 30 year fixed was at 3.40% today.