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» Sharp Drop in Rate/Term Refinance Activity Shrinks Prime Non-Agency MBS Issuance in Early 2004
Sharp Drop in Rate/Term Refinance Activity Shrinks Prime Non-Agency MBS Issuance in Early 2004
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The upswing in primary market mortgage rates that took root in late 2003 had a major impact on the issuance of new prime-grade non-agency MBS early this year, a new Inside MBS & ABS analysis reveals.