Last week in the mortgage market, supply continued to ramp up — averaging $4.4 billion per day on average compared with $3.4 billion the previous week.

Additionally, 4%s made up about 60% of the supply with 4.5%s at 40%. The increase was readily absorbed by the Federal Reserve, which bought on average $6.6 billion per day based on its latest weekly report, and mainly in the supply coupons.

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