February 28th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed down 6 basis points today at 104.81 having closed down for the first time in the last six sessions.  The 4.0% coupon bond closed exactly at support offered by the 104.81 level.  With no Treasury auctions to boost bonds, they traded down for most of the day and managed to close near the highs of the day.  The 30 year fixed closed at 4.50% today.