December 6th Mortgage Market Update 4

Mortgage backed securities (MBS) closed up 34 basis points today at 103.75 after having fallen back  to 103.06 early in the day in reaction to the strong jobs report.  That allowed MBS bonds to close above the 103.48 level which became resistance just yesterday.  Comments from Chicago FED President Charles Evans saying that he would go along with December tapering but preferred to wait in MBS pits.  The 30 year closed the day at 4.625%.