September 4th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed even today at 103.94 having remained above dual support offered by the 25 and 100 day moving averages and just 18 basis points below formidable resistance at the 200 day moving average.  A generally poor jobs report and a falling stock market did little help MBS bonds.  The shadow of the powerful resistance above did not allow any advancement today.  The 30 year remained at 3.75% today.