November 30th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed up 16 basis points today at 103.59 having closed exactly on resistance offered by the 25 day moving average.  MBS bonds had not closed at the 25 day moving average since October.  Although not a big move, this could bode well for the bonds in the short run.  With the jobs report on Friday, the effect of this move may well be minimized.  The 30 year closed at 4.00% again today.