May 7th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 16 basis points today at 105.41 having closed above all levels of resistance.  There is talk about changing back to the 3.50% coupon.  Remember that the actual interest rates reflect the coupon amount plus approximately ,75% which the commission wall street gets for securitizing the bonds.  The 30 year conforming was available at 4.375% today.