January 29th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed up 19 basis points today at 104.66 having finished the day 26 basis points above resistance offered by the 104.40 level.  On a day when stocks were up significantly, this was quite a result for MBS bonds.  I would strongly recommend that anyone with a loan in underwriting seriously consider locking on Monday if MBS bonds do not have a bad start. The 30 year remained at 3.75% today.