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What is the average life of a pool of 30-year fixed rate mortgages? What happens to the average life of a pool of mortgages when

What is the average life of a pool of 30-year fixed rate mortgages? What happens to the average life of a pool of mortgages when prepayment speed increases? Why does prepayment speed increase when interest rates decrease? Discuss the negative convexity exhibited by mortgage-backed pass through certificates in the context of duration and pre-payment speed.

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