Replies to post #254455 on Zeev's Turnips Patch-No Politics (ZEEV)

[Joe Stocks]

>>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!