For the July prepayment reports released last Thursday, the slowdown in speeds was in line to slightly less than expected.

For instance, Street consensus before the release of the reports was that slowing in FNMAs for 4.5% to 6.5% coupons was projected at 14%. The actual slowdown was 13% and 11% for FHLMC Golds. Meanwhile, GNMAs slowed 6% versus a projection of 9%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.