US mortgage market has expanded 50% since 2008 with banks and Fed absorbing new issuance. @MorganStanley via @SoberLook Almost all

US mortgage market has expanded 50% since 2008 with banks and Fed absorbing new issuance. @MorganStanley via @SoberLook Almost all of new mortgages are GSE backed but no longer held on their balance sheets. https://t.co/cOv7he6ilG

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