April 22nd Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 9 basis points today at 104.12 having passed through resistance offered by the 25 day moving average and come to rest just 12 basis points below the 50 day moving average.  MBS bonds managed a positive session despite a fairly strong showing in U.S. stock markets and the fact that today's Treasury auction garnered only a "C-" rating.  The 30 year was at 4.625% again today.