Thus as more buying takes place, yields continue to go lower, triggering (perhaps) another round of mortgage refinancing. This happens because in the United States, a homeowner is allowed to pay of...

Thus as more buying takes place, yields continue to go lower, triggering (perhaps) another round of mortgage refinancing. This happens because in the United States, a homeowner is allowed to pay of his mortgage as soon as he wants (without waiting for 15 or 30 years to completely pay it of ).