February 26th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 22 basis points at 104.72 having touched resistance above offered by the 104.75 level prior to closing just below.  A $35 billion auction of 5 year U.S. Treasury notes garnered an "A" rating today propelling MBS bonds to even loftier heights.  The 30 year fixed closed at 4.50% again today.