New Lows in Mortgage Rates Expected To Accelerate MBS Prepayment Speeds
February 28, 2003
Record low mortgages rates are expected to accelerate March mortgage prepayment speeds and extend the current mortgage origination boom well into the middle of this year. Freddie Mac’s survey for the week ending Feb. 28 showed the average rate for 30-year fixed-rate mortgages at 5.79 percent, with an average 0.6 point, down from 5.84 percent the previous week. That is the lowest rate ever