April 3rd Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 12 basis points today at 103.72 having broken through resistance offered by the 103.60 level and near its high of the day.  Technical factors should have little to do with tomorrow's trading, however, the governments' jobs report will take center stage.  A better than expected report will be good for stocks and bad for bonds.  The 30 year fixed was at 4.625% today.