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Negative Reprices Increasingly Likely

MBS and treasuries have quickly moved to their worst levels of the day.  The FNMA 3.5 coupon is down 4 ticks from when most lenders issued rates this morning putting them in a position to consider repricing for the worse.

MBS / Treasury Market Data

FNMA 3.0
101.78
-0.06
FNMA 3.5
102.69
-0.13
2 YR
1.5210
+0.0350
10 YR
1.6110
+0.0490
Pricing as of: 8/19 7:16AM EST
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