November 16th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed up 6 basis points at 103.25 having climbed to within 40 basis of resistance offered by the 100 day moving average.  the fact that MBS bonds managed to gain anything in the face of a good sized stock rally is impressive.  The bonds are mounting a slow arduous attempt toward interest rate improvement.  The 30 year was available at 4.00% today.