The markets are quiet.  The news reels are quiet.  The phone is quiet.  We can either look at nonsense on YouTube or we can look at the technical picture mortgage backed securities.  One seems more interesting than the other, but since I am sitting in my office and my kids still expect me to pay for their food, let’s have a quick look at the YTD mortgage market.  This chart shows that pricing has jut pushed back up through the ceiling of resistance and is now back in the January-February trading range.

Your guess is as good as mine on whether it heads back up to keeps rates down or not.  It’s amazing that the pricing has remained so strong for so long, in spite of bettering economic data and rising short-term rates.