January 24th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 41 basis points today at 104.47 today having remained above dual support offered by the 50 and 100 day moving averages and broken above resistance at the 200 day moving average.  The large green candlestick looks stately a top the improving chart. MBS bonds closed within 3 basis points of their high for the day.  The 30 year fixed was solidly at 4.50% today.