December 3rd Mortgage Market Wrap-up 3

Mortgage backed securities (MBS) closed up 6 basis points today at 105.25 having once again remained above double support offered by the 25 and 50 day moving averages.  Although quite close to the highs of all time, MBS bonds crept ever higher today.  Despite advances in foreign equity markets today, domestic stocks failed to follow through on their early gains and the Dow closed down 59 points.  The tall green candlestick reflects the close at the highs of the day.  The 30 year was at 3.30% today.