October 15th Mortgage Market Wrap-up 3

Mortgage backed securities (MBS) closed down 16 basis points today 105.06 having remained 15 basis points above support offered by the 25 day moving average and still in the safety zone below the highs of all time.  Money flew out of bonds today and into equities as the earnings season begins in earnest to yield results.  trading was light in the bond pits today as their were few participants involved in the market.  Interest rates remained low today with the 300 year fixed available at 3.25% for qualified borrowers.