March 2nd Mortgage Market Wrap-up 8

Mortgage backed securities closed down 22 basis points today at 101.75 having remained below support offered by the 25 and 50 day moving averages. Bonds continued to falter after President Trump's address to Congress. Hopefully MBS bonds will level off in the cmoning days before mortgage rates rise too mcuh.  The 30 year conforming rate was at 4.25% again today.