U.S. mortgage market mixed as prepay worries percolates - 2004-03-18
U.S. mortgage-backed securities prices were flat to weaker, while spreads were mixed early on Thursday as investors closely monitored U.S. Treasury yields for any drop that could further inflame prepayment worries.
"The Treasury market does not want to go down (in price), making the mortgage market jittery," said David Brownlee, portfolio manager at National Life Capital Management Co. in Montpelier, Vermont.
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