April 1st Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed down 9 basis points today at 103.88 having closed just 8 basis points below the 200 day moving average.  So bonds now find themselves below the four levels of resistance offered by the four moving averages once again.  Traders were pretty conservative today already laying low before Friday's jobs report.  The 30 year conforming was at 4.625% today while the jumbo was at 4.50%.