Decemberr 16th Mortgage Market Wrap-up 6

Mortgage backed securities (MBS) closed down 10 basis points today at 102.84 having fallen through support offered at the 102.75 level prior to bouncing back and closing above it.  That represent the third time since November 5th that MBS bonds have sunk to that support level and bounced off it.  Hopefully the third time will be the charm and interest can improve.  The 30 year was hanging just above the 4.00% level today.