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Mortgage prepayments have fallen 62% from a year ago. This is what that says about the housing market.

MarketWatch Picks has highlighted these products and services because we think readers will find them useful; the MarketWatch News staff is not involved in creating this content. Mortgage prepayment activity fell 19.1% just from March to April and 61.8% from a year ago, according to research from mortgage data and analytics company Black Knight. It’s driven in large part by mortgage rates rising and by how much refinancing activity has fallen as those rates have spiked, says Greg McBride, chief financial analyst at Bankrate.
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