January 6th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed up 38 basis points today at 103.69 having risen all the way up to resistance offered by the 100 day moving average and stopped just 9 basis points below the 200 day moving average.  Despite the nice improvement in pricing, we will continue to advise locking the short term in advance of Friday's jobs report.  The 30 year remained at 4.00% today.