Mortgage market players seem to be expecting some fairly major slowdowns out of Freddie Mac's prepayment data, which will be released early this week.

"We're definitely expecting to see seasonal slowdowns," said John Vibert, a mortgage researcher at Credit Suisse First Boston. "But I don't think there is a tremendous amount of prepayment concern with the market backing up as it is. The real question is, what kind of slowdown will there be in the housing market?"

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