The agency MBS market in April had its strongest month of new issuance in 20 months thanks to the combination of strong refinance volume and a surge in purchase-mortgage lending. A new Inside MBS & ABS analysis and ranking reveals that Fannie Mae, Freddie Mac and Ginnie Mae issued a total of $121.10 billion of new single-family MBS last month, an increase of 22.1 percent from March. It marked the strongest output since August 2013, when new agency MBS was tapering off from a huge influx of refinance business. Refinance loans continued...[Includes two data charts]