Posted To: MBS CommentaryRates Having a Tough Time Breaking Lower, At Least For Now We’ve been following .58% in 10yr yields for months as the best candidate for the bottom of “the range.” Now that mortgage rates and MBS spreads have largely settled relative to Treasuries, we might wonder if they’ll also have a tough time moving lower. The big caveat here is that there’s still a chance that the .58% bounces are purely coincidental. If it continues to happen, we’ll be talking more and more about it. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) and 1pm (T-Th) Jobless Claims 1.416m vs 1.300m f’cast , 1.307m prev Market Movement Recap 08:14 AM Bonds modestly stronger overnight despite slightly higher stock prices. 0.58% resistance remains intact underfoot. 2.0 UMBS starting…(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.