Mortgage prepayment rates are on the rebound as the spring home buying season takes hold.

Prepayment rates had declined in the wake of the pandemic as borrowers put their home buying plans on hold. However, with vaccines becoming more widely available and the economy beginning to rebound, borrowers are once again confident in their ability to buy a home.

The spring home buying season is typically the busiest time of year for the housing market, and this year is shaping up to be no different. Mortgage rates remain near historic lows, making it an ideal time for borrowers to finance a purchase.

With the rebound in prepayment rates, we are seeing more borrowers taking advantage of the current market conditions to buy a home.

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