Mortgage backed securities (MBS) closed up 6 basis points today at 104.22 having remained in the safe zone above support offered by the 100 and 200 day moving averages and just below some high prior closing resistance lines. Stocks floundered early but then turned positive toward the close. Nevertheless MBS bonds managed to hang onto their gains and keep their recent record of small advances going. QE3 purchases by the FED helped keep the market balance and some hedge fund played the seller's role. The 30 year fixed rate remained at 3.50% today.
Comments(0)