February 25th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 31 basis points today at 104.53 having opened a gap ahead and smashed through resistance offered by the 100 day moving average.  the long green candle and the fact that bonds closed within 3 basis points of their highs for the day bodes well for tomorrow's trading.  The 30 year fixed remained at 4.50% today.