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Some Lenders Already Face Reprice Risk; Others Just Out with First Sheets
Posted to: Micro News
Monday, September 30, 2013 10:32 AM
It's early enough in the morning that some lenders are just now coming out with their first rate sheets of the day, but for those out earlier in the morning, there's already a slight increase in negative reprice risk.
There was a good amount of time spent with Fannie 3.5s near 101-26--and that time can coincide with several lenders' initial rate sheet print times. While the volatility may have kept them more defensive, prices are down more than an eighth of a point, meaning that negative reprices can't be ruled out.
That said, we're not staring down the slope of an epic sell-off just yet. Fannie 3.5s are down only 3 ticks on the day and 10yr yields are attempting to bounce at 2.64.
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