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» New Production of ARM-Backed Pools Climbs Again in 3Q01, But Outstanding Balance Continues to Sag
New Production of ARM-Backed Pools Climbs Again in 3Q01, But Outstanding Balance Continues to Sag
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The mortgage-securities market generated a strong $25.45 billion of new issuance backed by adjustable-rate mortgages during the third quarter of 2001, but it wasn’t enough to offset the rapid runoff of the existing stock of ARM securities.