March 11th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed up 9 basis points today at 101.16 having fallen through support at the 101. level and ran all the way up to the 100day moving average above prior to closing right between them.  Heavy Fed buying with the proceeds of maturing bonds held the MBS market back somewhat.  The 30 year fixed jumbo and conforming rates were at 4.00% today.