June 27th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed down 3 basis points today at 102.75 having risen during the day to within three basis points of resistance offered at the 103. level prior to falling away at the close.  The closing so far away from the high of the session and the high level bonds are at may suggest some prudence with locking on Monday.  The 30 year remained at 4.25% today.