How long is the expected average life of a mortgage held in a pool of 30-year mortgages with a 100 PSA?

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The expected average life of a mortgage held in a pool of 30-year mortgages with a 100 PSA (Public Securities Association prepayment model) is approximately 14.68 years. This is because the 100 PSA assumes a certain rate of prepayment that accelerates over time, reducing the average life of the mortgages in the pool compared to their original 30-year term.

How Long Is the Expected Average Life of a Mortgage