Buyout activity was evident in FNMA 2008 and 2007 premium coupon vintages. Speeds on 6s, 6.5s and 7s increased around 20% on those production years versus expectations of a 10% increase.

More seasoned vintages recorded just mild gains. The 2008-2006 vintage 5.5s also jumped sharply with the 2008 vintage prepaying at 20.1 CPR from 14.2 CPR previously and versus an expected increase to 17 CPR.

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