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Post# of 704044
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Joe Stocks

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Joe Stocks

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Re: AKvetch post# 254455

Tuesday, 06/08/2004 9:39:14 AM

Tuesday, June 08, 2004 9:39:14 AM

Post# of 704044
>>As a consequence of record levels of refinancing in the second half of 2002 and the first half of 2003--which, by our estimates, encompassed roughly 45 percent of the total value of home mortgages outstanding--MBS duration fell to exceptionally low levels. <<

45%!!! amazing!

Joe

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