Stagnant spreads in the market over the past week have kept mortgages attractive, but an unexciting atmosphere is expected to linger around for at least the next few weeks, market observers say.

"The market's kind of held in there this week," said Gary Singleterry, president of Singleterry & Co., a New Jersey-based mortgage-backed securities hedge fund company. "It hasn't actually moved around a lot. Mortgage spreads have basically been unchanged during the entire week."

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