Higher interest rates have reduced prepayments to levels not seen since 2014.
February's monthly prepayment rate of 0.8% was down 15.26%
Delinquency and total foreclosure presale inventory rates also declined.
The total loan delinquency rate for loans 30 more days past due but not in foreclosure fell 0.98% month over month and 5.51% year over year to 4.21%.
February's foreclosure presale inventory rate of 0.93% was down 1.88% from the previous month and 28.48% from February of last year.
Total foreclosure starts were 17.76% lower than January and 31.32% lower than in February 2016 at 57,900.
