January 23rd Mortgage Market Wrap-up 5

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

Mortgage backed securities (MBS) closed up 41 basis points today at 104.06 having once again bashed through double resistance offered by the 50 and 100 day moving averages.  Today's  gain came in large part due to a sell off in stocks caused in large part because China's index of manufacturing fell below the 50 mark sending it into retrograde.  Bond market volatility may continue.

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