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» ARM Strength, Heavy Refi Borrowing Propel Prime Non-Agency MBS Issuance
ARM Strength, Heavy Refi Borrowing Propel Prime Non-Agency MBS Issuance
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The refinance market started to weaken slightly in the third quarter of 2003, but there was enough forward momentum from the low interest rates of earlier in the year to carry the prime non-agency MBS market to a new record in production volume.