Prepayments of Fannie Mae 30-year discounts declined slightly in November while those of premiums increased mildly, according to prepayment data that was released by the GSE last week. However, prepayments on seasoned premiums, in contrast, mostly declined.

According to prepayment specialist Warren Xia at Banc of America Securities, the aggregate speeds of FNMA 30-year 6s and 6.5s declined by 3% and 4%, respectively, while those of 8s and 8.5s increased by 13% and 5%, respectively.

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