March 13th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 41 basis points today at 104.56 having blasted through resistance offered by the 25 day moving average and remained above the 50 and 200 day moving average.  Yesterday's occurrence of the 50 day moving average passing the 200 moving average for the first time in two years did in fact improve bonds.  The 30 year was available at 4.50%.  It will be interesting to see what tomorrow brings.