Mortgage Bonds are trading higher getting a boost from weaker than expected housing numbers and manufacturing data.

Giving Bonds a further boost is weakness from the Stock markets after a mixed bag of corporate earnings reports. In addition, the closely watched S&P 500 closed below a key technical support level yesterday and stocks are following through to the downside today. carefully watch the action in Mortgage Bonds today as they are now pressing up against resistance at the 200-Day Moving Average, anything can happen very quickly. Rates remain at historic lows.