Mortgage Securities Are Flooding the Market. Thank the Fed

Wall Street Journal, Sept. 16, 2020–Orla McCaffrey (subscription)
Low mortgage rates have spurred a boom in home refinancing, which in turn has spurred a boom in the issuance of mortgage-backed securities. The value of single-family mortgage-backed securities issued by Ginnie Mae, Fannie Mae and Freddie Mac totaled almost $322 billion in August, a new monthly record, according to an analysis.