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| | Bond Buyer Feature Article |
 | | The slowdown in prepayment speeds for single-family mortgage revenue bonds comes after MRBs backed by 8% mortgages clocked an index value of 48.05 in the second half of 2003, according to the previous semi-annual report Merrill Lynch released in February. |
 | | After West Virginia's index value of 0.50, the next-slowest prepayment speeds appeared in Puerto Rico, Arkansas, Oklahoma, and Alaska, which had respective index values of 0.51, 0.52, 0.54, and 0.54, the report said. |
 | | With prepayment speeds for single-family mortgage revenue bonds slowing, and likely to continue slowing, now is a good time to buy higher coupon single-family bonds, van Kuller said, adding that MRBs in general perform best in an environment of level or rising interest rates. |
| www.ssctech.com /e-news/bond_buyer.asp?B=31 (5456 words) |
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