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As coupon rates on new mortgages fall:(a) there is a decreased incentive for individuals in the pool to pay off old, high-cost mortgages and refinance at lower rates(b) there is an increased incentive for individuals in the pool to pay off old, high-cost mortgages and refinance at lower rates(c) there is no effect on mortgage payments(d) individuals are inclined to sell off their mortgages
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