The end of the 1992-93 refinancing boom brought with it one piece of good news for mortgage bankers: Prepayments have slowed to a trickle since then.

The lowest interest rates in 20 years and the accompanying high prepayment rate stunned the secondary market and clobbered many servicing portfolios and many holders of mortgage investments.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.