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Mortgage-bond sales hit highest level since 2009

Nearly $176 billion in bonds backed by fixed-rate home loans are issued in November amid a refinance boom and lenders' hurry to securitize loans before Fannie's and Freddie's fees rise. Sales of government-backed mortgage securities rose in November to the highest level in more than three years, stoked by a refinance boom and a rush by banks to avoid a fee increase from Fannie Mae and Freddie Mac.

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