Mortgage-backed securities issuance continued to climb in the first quarter, increasing 44% to $786.7 billion from $547.0 billion a year earlier, according to The Bond Market Association."The surge reflects the continuing appeal of historically low interest rates; however, the increase in activity is much more modest when compared to [that of] the previous quarter," the association reported. MBS issuance was up only 4.6% from the fourth quarter, when volumes totaled $773.8 billion. TBMA can be found online at http://www.bondmarkets.com.
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