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October 31st 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 19 basis points at 104.88 today having come within 4 basis points of resistance at the 25 day moving average prior to coming to rest just 12 points below it.  Today's trading is represented by a large green Japanese candlestick which is a bullish sign.  Stocks did very little today as few traders were able to make it into Wall Street with the lack of public transportation in New York City.  They say that the subway system may be out for close to a week as the result of unprecedented water damage.  The 30 year fixed was available at 3.60% today.

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