Lacey, Nelson J.; Milonas, Nikolaos T. - In: Journal of Real Estate Research 4 (1989) 2, pp. 21-32
This study examines GNMA prepayment determinants as a function of interest-rate factors and the pure aging effect. While we find both interest-rate and age factors to be important, these relationships are not constant across different pools. This suggests that prepayment forecasts need to be...