August 26th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed down 6 basis points today at 105.72 having remained above dual support offered by the 25 and 50 day moving averages.  The chubby red candlestick indicates that trading was in a narrow range today.  MBS bonds did well not to recede further as stocks were in the black all day.  The 30 year barely hung in at 4.25% today.