April 29th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 3 basis points today at 104.41 having come to rest exactly at resistance offered at the 104.41 level.  MBS bonds  did well to remain in the positive today with a strong performance in stocks and with the FED Open Marketing Committee revealing the results of their meeting tomorrow at 2PM.  Pundits are expecting another $10 billion reduction in QE3 purchases.  The 30 year conforming was at 4.50% today.