June 12th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 25 basis points today at 102.00 having broken through both resistance offered by the 50 day moving average which it fell below yesterday and the 101.97 level.  Today's move upward was due in large part to money flowing out of stocks which sold off again today.  The 30 year was available at 4.375% today.