Mortgages saw steady two-way flows last week with interest coming from a wide range of investors including money managers, servicers, hedge funds, and overseas accounts. There was slightly better interest in moving down in coupon as a result of some strength in Treasurys as well as curve flattening. However, 30-year 6s did stage a comeback after getting hit during the roll period. Originator selling picked up slightly with a couple of sessions seeing $1.5 billion in supply coming in 5s, 5.5s and 6s.

Over the week ending Nov. 17, spreads were unchanged in 30-year FNMA 5s and 6s, and one to two basis points tighter in 4.5s and 5.5s. In 15s, spreads firmed one basis point in 4s, and held unchanged in 4.5s and 5s.

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