May 21st Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 6 basis points today at 105.56 having broken through resistance offered by the 105.53 and come to rest just 9 basis point below the high of 10/23/13.  bonds did well to achieve this level as stocks were enjoying a strong rally.  The minutes of the Federal Reserve's Open Market committee today and created no headlines.  The 30 year fixed was at 4.25% again today.