January 5th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed  up 9 basis points today at 103.31 having solidified their position above support offered by the 25 day moving average and crept to within 11 basis points of resistance at the 50 day moving average.  We will still employ a locking bias in advance of Friday's federal jobs report.  The 30 year was available at 4.00% once again today.