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August 20th 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 down 6 basis points today at 105.53 having remained just 1 point above resistance offered by the 25 and 50 day moving averages after having fallen through them during the day.  The Fed cited some improvement in the labor market but certainly not enough to raise rates.  The 30 year rate tottered on the cusp of 4.25 and 4.375% today.

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