Mortgage backed securities (MBS) closed up 25 basis points today at 104.81 having surged up to 46 basis points above the 200 day moving average. That represents the highest close since November 18th. With a little more improvement we could see the 30 year conforming rate back down to 4.375%. It seems that the tapering action by the FED reducing monthly purchases to a mere $65 billion is helping bonds.
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