Through Thursday of last week, mortgage activity was relatively quiet compared to trading sessions earlier in the month, which saw periods of heavy originator selling, offset by active buying from most account types.

The last week of November experienced modest originator selling of $1 billion or less per day. At the same time, investors were better sellers, particularly money managers, who took profits and in some cases moved up-in-coupon. There was modest buying interest from arb accounts and insurance companies.

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