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July 7th Mortgage Market Wrap-up 5

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

Mortgage backed securities (MBS) closed up 6 basis points today at 102.09 having closed just barely below the dual level of resistance offered by the 25 and 50 day moving averages.  In the wake of Thursday's big jobs number and a moderate loss for equities, fixed rate traders managed to dust themselves off an regroup today.  The 30 year closed at 4.50% today.

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