51.   Mortgage bonds lagged Treasuries amid concern lower yields will entice homeowners to refinance the mortgages underlying the securities.

52.   Mortgage bonds tend to fare worse than Treasuries in a rally because as rates decline, homeowners grow more likely to refinance mortgages and return principal to bondholders early.

53.   More important, low and declining rates this year have allowed more homeowners to refinance their mortgages.

54.   Mortgage bonds trailed Treasuries as steady consumer prices failed to diminish concern that homeowners would refinance their mortgages.

55.   Much like homeowners refinancing their mortgages, municipalities sell bonds to pay back debt sold when interest rates were higher.

56.   Mortgage bonds lagged Treasuries amid concern that more homeowners will refinance their mortgages if interest rates keep falling.

57.   Mortgage securities gained less than Treasuries amid concern that more homeowners will refinance their mortgages if interest rates keep falling, analysts and traders said.

58.   Mortgage securities, hampered by concern the bonds will be repaid early as low rates lure homeowners to refinance mortgages, gained less than Treasuries.

59.   Other homeowners have been helped by low interest rates that have allowed them to refinance their mortgage, lowering their monthly payments.

60.   Overall, I think I would go with the investment program and the idea of refinancing the mortgage.