July 2nd Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed up 34 basis points today at 102.75 have passed through and closed above resistance at the 102.66 level.  Perhaps now MBS bonds can take another run at the 25 day moving average which lies just 24 basis points above.  The Greek crisis will play out on Sunday as returns from their referendum become known.  The 30 year conforming rate was at 3.99% today.