April 22nd Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed down 31 basis points today at 102.09 having fallen through resistance offered by the 25 day moving average at the 102.30 level.  MBS bonds did manage to close about 6 basis points above its low on the day.  That may be good news for coming session.  I will continue to watch them carefully throughout the week.  The 30 year was at 3.875% today.