January 30th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed up a whopping 50 basis points today at 103.50 having broken through resistance at the 103.40 level and having risen to within 3 basis points of the high of May 10, 2013.  MBS bonds find themselves in truly rare air.  Today's large sell off in stocks pushed them to the very top of their range.  The 30 year closed quite close to 3.625% today.