March 25th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed down 41 basis points today at 102.06 having fallen all the way down to the 50 day moving average and closed right on it.  Closing one day right at resistance and the next right at support is a great example of the important of knowing the technical levels in a market.  The 30 year conforming closed at 3.875% today.