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Negative Reprice Risk Already
Posted to: Micro News
Wednesday, August 21, 2013 10:04 AM
If you recall a certain big, early lender's negative reprice on Monday, you'd also want to assume it's a risk now with MBS off roughly 6 ticks from the 9:20am-ish time frame at which said lender takes marks for rate sheets.
Fannie 4.0s down 7 now at 102-12, but liquidity is spotty at best. next trade could be 2 ticks in either direction. Negative reprices are possible for any lender out early with rates.
Culprit is stronger than expected Existing Home Sales. Getting this alert out quick, with more to follow on that in a separate update.
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