December 1st Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closing up 31 basis points today at 103.91 having smashed through resistance offer by the 100 day moving average and come to rest just 2 basis points below double resistance offered by the 50 and 200 day moving average.  Some poor manufacturing news here combine with a pipe bomb in turkey set the stage for a surprise rally.  The 30 year was available at 3.875% today.