Surprises during the month included faster-than-expected Home Affordable Refinance Program speeds in Freddie Mac securities and slower-than-expected speeds in 2011-2012 vintage Fannie Mae 3.5s, according to the company’s research.
Fifteen-year speeds also slowed, but to a lesser degree than was seen in the 30-year sector, and aggregate speeds of 30-year product in the Ginnie Mae sector were 3% slower for Ginnie Mae Is and 7% slower for Ginnie Mae IIs.
