Mortgage Rates are up slightly as Mortgage Backed Securities were lower this morning due to the rise in stock market and oil, but both have slipped into negative territory. Although the rally in MBS have not followed, I would expect them to if the losses in the stock market and oil continue to mount. Technically, MBS are battling a dual layer of resistance that could be shattered if the S&P drops below 1980 (it is currently trading at 1994).
