January 7th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed down 25 basis points today at 105.00 having fallen further below resistance offered at the 105.31 level.  We may still have a good refinance opportunity through tomorrow if we don't have really good news to bring MBS bonds down further.  Conforming and high balance conforming rates are really bargains right at 3.875 and 4.00% respectively.