March 25th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed even today at 103.84 having remained once again just above support offered at 103.81 and below the four moving averages now offering imposing resistance.  A mix of good and bad news pushed and pulled traders into this neutral result.  A quick look at the candlestick charting shows that we are in a good trend.  Hopefully we can return the 30 year back to 4.50% soon.