March 3rd Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed down 22 basis points today at 101.31 having fallen through support offered by the high 12/17/14 and tumbled downward toward support at the 100 day moving average just 12 basis points below.  Despite the fact that stocks were falling throughout the day, massive issue of corporate debt forced the bonds lower.  The 30 year was at 4.00% today.