Despite light trading and a short-term interest rate increase by the Federal Open Market Committee, the overall tone of the mortgage market has been positive, say investors and researchers.

"Having the Fed behind us as a player in the market for at least a few months should make it a more attractive environment for mortgages," said Greg Rosenberg, a mortgage-backed securities trader at J.P. Morgan. "In fact, we've moved to an overweight recommendation in mortgages."

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