May 2nd Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 12 basis p;point today at 105.06 having plunged early on after the strong jobs report numbers were revealed.  The bond fell down to just above support offered at 104.41 prior closing near its high of the day well above resistance at the 104.78 level.  Stocks never really reacted well to the report.  The conforming 30 year fixed loan close the day at 4.375% today!