Despite general optimism in the market that a recent back-up in rates would be pulling prepayments back, some experts say that speeds are still pretty resilient.

A Bear Stearns report said last week that it remains cautious on the mortgage basis. Bear said that although market conditions have been favorable for mortgages of late, a recent rally "has once again taken the mortgage rate to within striking distance of our next prepayment threshold of 7%."

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