January 26th Mortgage Market Wrap-up

Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

Mortgage backed securities (MBS) closed up 12 basis points today at 100.94 just 5 basis points below the 100 day moving average.  Although strong auction results at today's Treasury auction should have catapulted MBS bonds higher, there were more reasons to keep them in check.  The combination of the ever increasing supply of fixed income products and a strong Consumer Confidence reading once again kept bonds from breaking through the formidable double level of resistance above.

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