21.   It turned out that his credit report showed many inquiries about his financial history, in part because he was refinancing a loan at the time.

22.   Korea would also like an option to pay off the loans before maturity -- known as a call option -- if it becomes cheaper to refinance the loans.

23.   Lower interest rates increase the risk that homeowners will refinance the loans underlying mortgage bonds.

24.   Lower rates recently increased expectations that more homeowners will refinance the loans backing mortgage bonds.

25.   Lower rates had recently increased expectations that more homeowners would refinance the loans backing mortgage bonds.

26.   Many of the forecasts proved wrong as interest rates declined and borrowers refinanced their loans.

27.   Many recent graduates will be able to refinance their loans and lock in the low rates, but there are other ways they can cut their debt.

28.   Money managers reckon that homeowners have already had the chance to refinance those loans when rates were lower.

29.   Mortgage bonds gained less than Treasury notes as falling interest rates rekindled the risk that homeowners will refinance the loans that back the bonds.

30.   Mortgage rates dropped toward the end of last year, prompting homeowners to refinance their loans and repay them faster.