Capstead Mortgage Corp. reported earnings of $35.1 million, or 50 cents a share, for the first quarter, a decline of 6.2% from net income the year earlier of $37.4 million, or 65 cents a common share.

The Dallas company, which services loans and invests in mortgage assets, said the decline in long-term interest rates last year prompted an increase in prepayments.

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.