TITLE

Prepayments Slow after February Surge

AUTHOR(S)
Peters, Terry
PUB. DATE
June 2008
SOURCE
Mortgage Servicing News;Jun2008, Vol. 12 Issue 5, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the slower performance of the overall prepayment rates for mortgage-backed securities in the U.S. after a 52% surge in February as originators tried to avoid the new delivery fees applicable starting in March. It notes that extension risk is currently the prevalent risk especially in the 30-year 5.0% and 5.5% coupons. Mortgage rates for adjustable rate mortgages have declined as index rates fell along with short-term rates determined by the Federal Reserve Board.
ACCESSION #
32183881

 

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