August 29th Mortgage Market Wrap-up 5

Mortgage backed securities (MBS) closed up 3 basis points today at 105.94 having passed above resistance at the same level prior to closing exactly on it.  It will be interesting to see how next week plays out in the stock and bond markets with the world still being an extremely edgy place right now.  After being down most the day stocks closed up and the 30 year remained at 4.25% with the 30 year jumbo at its low for the year at 4.00%.