August 10th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed down 19 basis points today at 103 56 having come to rest just 12 basis below resistance offered at the 103.68 level.  With the 100  and 200 day moving averages not far above, MBS bonds are still aspiring to rise up and improve rates. Considering a large advance for equities, MBS bonds did well to lose so little.  The 30 year remained at 3.875% today.