Mortgage prepayment broke a four-month streak of record lows in February, with relief likely to extend as the spring home buying season takes hold, Black Knight’s mortgage performance data showed.

“Prepayment activity ticking up slightly in February is an underlying indicator that both refinance and purchase origination volumes may have reached their cyclical lows,” Andy Walden, vice president of enterprise research and strategy at Black Knight, said.

​​In a typical year prepayment activity driven by home sales – which in today’s market accounts for more than half of all prepays – nearly doubles between January and June, Walden details ⇒

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