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Sep 27 2008 6:49AM EDT

Chart of the Day: Subprime MBS Prices

A very useful chart from the Peterson Institute's new RealTime Economic Issues Watch showing current prices on subprime MBS:

...prices range respectively from about 90 cents to 15 cents on the dollar, for 2006 and earlier vintages, and about 60 to 8 cents on the dollar for 2007 vintages....About three-fourths of the volume outstanding is AAA or better for 2006 vintages, and about two-thirds for 2007 vintages.  A rough estimate is that the overall weighted ratio of current market value to face value is about 70 percent for the 2006 and earlier vintages and about 50 percent for the 2007 vintages.

According the Bank for International Settlements, the total value of subprime MBS in 2006-2007 was about $410 billion.

(Hat tip: Menzie Chinn)

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