May 20th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 31 basis points today at 105.50 having risen to touch resistance above offered by the 105.53 prior to closing just below it.  Nevertheless the stout green candlestick shows us that the 4.0% coupon bond did well today as it benefited from a sell-off in stocks.  The conforming 30 year fixed loan was available at 4.25% today with no points.