May 23rd Mortgage Market Wrap-up 2

Mortgage backed securities close up 9 basis points today at 104.38 having climbed back up in baby steps toward resistance offered by the recent record high closing.  MBS bonds traded in a tight range today and closed in the middle of the days range.  A rare late afternoon alert to lock came as bonds hit 25 basis points below their mid-morning pricing points.  While there was doubt about Greece's future is the Eurozone, the "safe haven" trade really never got going.  Buckle your seat belts as overnight news from Europe could roil markets.