It has been a pretty "wild" week for mortgages, market players say, as Wall Street decided to hold off on buying and therefore produced low prices on bonds.

"The market rallied significantly and mortgages performed well near the end of the week, keeping in line with the rally of the 10-year," said David Montano, a director of mortgage research at Credit Suisse First Boston. "Swap spreads also came in, as well as volatility, which has been decreasing for many weeks now."

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