US February mortgage prepayments higher on low rates - 2004-03-05
More U.S. homeowners prepaid their mortgages in February after a drop in loan rates at the start of the year re-energized refinancing, analysts said on Friday.
Prepayments last month rebounded more strongly than the market expected after hitting a two-year low in January.
About $70 billion of fixed-rate loans that support mortgage securities guaranteed by Fannie Mae and Freddie Mac were paid off in February.
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