April 28th Mortgage Market Wrap-up 7

Mortgage backed securities (MBS) closed up 22 basis points today at 102.47 having passed through and closed above resistance offered by the 25 day moving average.  MBS bonds once again sit proudly above all the moving averages and may be poised to help interest rates improve yet again.  Weak economic data from the 1st quarter 2016 GDP helped the rally.  The 30 year remained at 3.75% during the day.