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Glossary


Constant Maturity Mortgage Ratesearch for term

The Constant Maturity Mortgage Rate is the bond equivalent yield of a newly originated To Be Announced ("TBA") mortgage-backed security that uses price ratios of nearby actively traded coupons to trade at parity. This also is referred to as the "current coupon yield" or "secondary mortgage market rate".

See also: Current Coupon Yield, Secondary Mortgage Market Rate