July 14th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed down 25 basis points today at 102.16 having fallen through support offered by the 50 and 25 day moving averages.  Funds flowed out of bonds today as stocks were substantially higher.  The sell-off caused the 30 year conforming to rise to 4.375% while the jumbo 30 year fixed remained at a low 4.125%.