January 28th 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 12 basis points today at 104.34 having shot through resistance offered by the 200 day moving average up to 4.50 prior to settling just 4 basis points below it. The bond market did surprisingly well with the Fed's decision on further tapering due tomorrow at 2PM.  After yesterday's foreboding closing chart sign, I did not expect the 4.50% 30 year rate to last through today.

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