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Negative Reprice Risk Increasing as MBS Hit Lows
Posted to: Micro News
Wednesday, September 04, 2013 11:56 AM
Fannie 4.0s aren't technically there yet, but 3.5s just hit lows of the day at 99-05. 10yr yields are testing 2.87--their highest mark since before the 8:30am data--and Fannie 4.0s are spending more time now around previous lows of 102-20 to 102-22. This brings us to the leading edge of negative reprice risk where some lenders, but not most, may be considering it. A definitive break below 102-20 in Fannie 4.0s would increase the risk to moderate levels and a move to yesterday morning's lows near 102-16 would make the risk more pervasive.
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